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Method and System for Adjusting Price of Goods or Services based on Emotional State of a Consumer

IP.com Disclosure Number: IPCOM000241786D
Publication Date: 2015-Jun-01
Document File: 2 page(s) / 34K

Publishing Venue

The IP.com Prior Art Database

Abstract

A method and system is disclosed for adjusting price of goods or services based on emotional state of a consumer.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 52% of the total text.

Page 01 of 2

Method and System for Adjusting Price of Goods or Services based on Emotional State of a Consumer

Disclosed is a method and system for adjusting price of goods or services based on emotional state of a consumer. The method and system utilizes baseline emotional states to provide the consumer with variable pricing of the goods or services . The consumer might pay a higher price for the goods or services if the consumer is given a guarantee that a desired experience is provided to the consumer from the transaction . Similarly, provider (goods or services) can charge a higher price for the goods or services if the provider assures the consumer of the desired experience . Using biometric data of the consumer, the baseline emotional states can be determined . The baseline emotional states can include one or more of , happy, sad, excited, depressed, scared, satisfied, indifferent, pleasure and hungry. Biometric measurement of the emotional state of the consumer during and after a transaction is used to determine if the consumer had the desired experience.

If the consumer wants to have an experience that scares the consumer (e.g. amusement park ride), the consumer is charged a variable price based on the relative level of the consumer being scared compared to the baseline of scared . If the consumer is not scared sufficiently relative to the baseline , the consumer is charged a fee at the lower end of the variable pricing scale. If the consumer is sufficiently scared, the consumer is charged a fee at the higher end of the pricing scale . Thus, the consumer is paying for the experience that is measurable to both the consumer and the provider. As the provider knows that the provider has chances to receive a higher price , the provider is motivated to do everything possible to make sure the consumer gets the expected experience. As the consumer might have to pay less if the consumer does not get the experience at a satisfactory level, the risk of transactions for the consumer
is also eliminated. The use of biometrics to determine the baseline emotional states removes much (if not all) of the ability for the consumer to cheat the system . For example, a consumer can cheat by claiming to have had an unsatisfactory experience

when the biometric feedback data proves otherwise. In this way, the provider has less risk on the downside and more reward on the upside in the variable price transaction . Thus, the provider can offer a wider pricing scale to consumers which ultimately benefit both parties.

The consumers can opt to pay more for an item /experience that meets or exceeds...