Nonprofit arts organizations face conflicting objectives to balance—or more specifically, to create—artistic and educational value and to generate financial income from various sources. Pay‐what‐you‐want (PWYW), a participative pricing mechanism where services have no fixed price and customers actively decide what to pay, is a novel pricing mechanism and is of high interest for organizations and researchers alike. Based on the concepts of loss aversion and gain, this study presents a field experiment to test the effects of different PWYW pricing strategies on the amount of money paid by visitors of a German photo biennial. Explicitly, the provisions of minimum, maximum, and suggested external reference prices are compared to a setting with no external reference prices. We test the derived hypotheses, discuss the results, and provide implications for future research, as well as for the management of nonprofit arts organizations.

中文翻译：

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外部参考价格策略对非营利性艺术组织“按需付费”设置的影响

非营利性艺术组织面临着相互矛盾的目标，以平衡（或更具体地说，创造）艺术和教育价值，并从各种来源产生财政收入。“按需付费”（PWYW）是一种新颖的定价机制，在这种定价机制中，服务没有固定价格，客户可以主动决定要支付的费用，这对组织和研究人员都非常感兴趣。基于损失规避和收益的概念，本研究提出了一个现场实验，以测试不同的PWYW定价策略对德国双年展游客支付的金额的影响。明确地，将最低，最高和建议的外部参考价格的规定与没有外部参考价格的设置进行比较。我们检验得出的假设，讨论结果，