This study contributes to the limited literature on the innovative pricing method of Pay-What-You-Want (PWYW) in the context of a high-value service. PWYW is a participative pricing approach that takes away all the power from the seller allowing customers to decide what price they want to pay. As such, the customer is free to set any price (even zero) and the seller has to accept it (Kim et al., 2009). Existing research on PWYW examines the impact on customers fairness perception (Haws et al., 2006), willingness to pay (Spann et al., 2004), and purchase intentions (Chandran et al., 2005). Studies also provide insights into which factors (e.g., price or value consciousness) impact on the PWYW price people pay, and on its profitability (Kim et al., 2009). PWYW is more effective than traditional pricing approaches for services that follow an economy pricing strategy (Schons et al., 2014) but not for luxury goods (Balan, 2014). A notable omission in the literature is the lack of studies that directly compare the profitability of PWYW for potential, new, and repeat customers in a high-value priced service setting. The high-value strategy is defined as positioning a high quality service sold at a medium price (Kotler et al., 2001). Another lack in literature is the use of natural experiments to examine whether groups of customers will pay different prices in comparison to traditional price setting methods. In marketing research, natural experiments have been used to examine price-quality trade-offs with the conclusion that consumers pay more for better quality (Bertini et al., 2012). Using the natural experiment of the biggest dance festival in Europe (ImPlusTanz) where different customer groups pay different prices, the study compares the applicability and profitability of the PWYW pricing method. Specifically, the minimum, maximum, and PWYW prices are compared to traditionally set prices. Results from the secondary data analysis reveal that ImPulsTanz uses a pricing structure based on demographics mainly. Survey results show that the PWYW prices differ between three natural customer groups. Repeat customers are prepared to pay the highest prices compared to new and potential customers. Despite all customers indicating they will pay for the service generally, PWYW prices paid are lower than traditional list prices from the secondary data analysis. Findings also confirm differences between customers with diverse price perception/consciousness, perceived quality and value of the services offered.

For attaining optimum fatigue resistance of PM steels, high density levels are necessary. In this work, sintered steels Fe-1.5%Mo-0.6%C and Fe-1.5%Cr-0.2%Mo-0.6%C were produced with density levels of 7.1 to . Ultrasonic fatigue testing with 20 kHz was performed in push-pull mode up to 10E9 cycles. It was shown that the fatigue endurance strength is strongly improved by higher density levels, but also higher sintering temperatures are beneficial. The Cr-Mo steels proved to be superior to the plain Mo alloyed, due to a more favourable as-sintered matrix microstructure.

Crack initiation and short crack propagation was studied on the polished notched surfaces of Cr-Mo prealloy sintered steels with 7.35 sintered density. An ultrasonic resonance test system operating in push-pull mode at 20 kHz and R=-1 was used. It showed that crack initiation took place in several places, small cracks growing oriented to the local pore structure rather than to stress orientation. Their growth rate is markedly higher than the corresponding one of long cracks. Finally, several microcracks join to form a dominant crack.