Figure 1From “The discount outlives the deal it was meant to close”
The walk-back costs more than the concession earned
How strongly quantity responds when a B2B customer buys above the benchmark of their last paid price, against buying below it. The bars show absolute size; the signs are opposite.
Figure 1The walk-back costs more than the concession earned
Source: Bruno, Che & Dutta (2012), Table 4, Model 1 (in-text values, p. 650) — standardized coefficients, quantity equation, transaction records of one UK industrial timber supplier. Directional evidence from one homogeneous-product setting; the authors note (fn. 10) that unobserved lost sales mean loss aversion “may plausibly be stronger” than these estimates. Not a portable multiplier.

Source and evidence
Each line names a claim related to this exhibit, its source, and how it was checked.
- A BCD12-C3 Quantity-equation LOSS −1.32 (SE .17) vs GAIN .348 (SE .15), standardized: loss aversion, direction only (BCD12-X1)bruno-che-dutta-2012-reference-price-b2b
- A BCD12-C9 The sample, counted in the paper: "the number of customers in our final data set is 135, and the number of salespeople is 33. We use a total of 10,614" transactions, for products each customer bought "at least ten times in the two-year period"bruno-che-dutta-2012-reference-price-b2b
Grades: A, verified against the printed page of the primary source · B, primary source, text layer only · C, authoritative secondary · D, reported.
From the essay
Pricing & revenue architecture
The discount outlives the deal it was meant to close
Buyers benchmark the last price paid; sellers anchor on their last concession; the quarter end manufactures both. What is measured, and what is folklore.
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