Exploring the Role Of Human Judgment in Making Discount Decisions in the Lodging Industry [Summary]
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This study assesses the process of making pricing decisions, specifically discounts, in the lodging industry. The findings of the study enhanced the understanding of how management’s discount choice was constructed. Different rankings on information attributes among departments were investigated; results show that managers from different departments rank some information elements differently. Learning the process of a discount choice provided new insights on managerial resources and capabilities required to set and change prices in the lodging industry.