ERN: Pricing (Topic)最新文献

Deciphering the Two-Sided Market Model of Rochet and Tirole: An Intricate Undertaking 解读罗切特和梯若尔的双边市场模型:一项复杂的工作

ERN: Pricing (Topic) Pub Date : 2021-07-27 DOI: 10.2139/ssrn.3894541

Adriaan ten Kate

引用次数: 0

Strategic Trading, Welfare and Prices with Futures Contracts 战略交易，福利和期货合约价格

ERN: Pricing (Topic) Pub Date : 2021-07-22 DOI: 10.2139/ssrn.3488037

Hugues Dastarac

引用次数: 0

The Welfare Effects of Dynamic Pricing: Evidence from Airline Markets 动态定价的福利效应:来自航空市场的证据

ERN: Pricing (Topic) Pub Date : 2021-06-28 DOI: 10.2139/ssrn.3026383

Kevin R. Williams

引用次数: 25

Precommitment-based Pricing Precommitment-based定价

ERN: Pricing (Topic) Pub Date : 2021-06-23 DOI: 10.2139/ssrn.3872571

K. Berger, Christina Schamp, Mark Heitmann, K. Wertenbroch

{"title":"Precommitment-based Pricing","authors":"K. Berger, Christina Schamp, Mark Heitmann, K. Wertenbroch","doi":"10.2139/ssrn.3872571","DOIUrl":"https://doi.org/10.2139/ssrn.3872571","url":null,"abstract":"In service marketing, customers typically pay more when they use more. Based on this principle, various non-linear pricing plans or flat-rate tariffs attempt to lure customers into higher use and higher-revenue contracts. An emerging marketing practice we term precommitment-based pricing turns these principles around and asks customers to pay extra when they use the service too little. For example, a local fitness club offers customers a discount when they reach a minimum training frequency, and those who fall short pay a premium. This form of pricing aligns directly with customer objectives and assists them in achieving their goals. In this research, we assess which type of precommitment-based pricing is best suited to pay off for marketers and customers alike. We study whether refunds for high use (prepaid) or premium payments for low use (postpaid) are more effective and find empirically that these different types of payment have a differential impact on service adoption, goal attainment, and retention. Five empirical studies in three service domains demonstrate that prepaid contracts attract more customers, but postpaid contracts increase goal achievement and, thus, loyalty. We test boundary conditions and discuss practical implications on how to implement precommitment-based pricing.","PeriodicalId":321987,"journal":{"name":"ERN: Pricing (Topic)","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123752252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Innovative Dynamic Pricing: The Potential Benefits of Early-Purchase Reward Programs 创新动态定价:早期购买奖励计划的潜在好处

ERN: Pricing (Topic) Pub Date : 2021-06-14 DOI: 10.2139/ssrn.3150572

Yossi Aviv, Mike Mingcheng Wei

{"title":"Innovative Dynamic Pricing: The Potential Benefits of Early-Purchase Reward Programs","authors":"Yossi Aviv, Mike Mingcheng Wei","doi":"10.2139/ssrn.3150572","DOIUrl":"https://doi.org/10.2139/ssrn.3150572","url":null,"abstract":"We propose a scientific, game-theoretic model in which a monopolist sells a fashion product in a market consisting of strategic consumers. Research papers on this subject have studied the adverse consequences of strategic consumer behavior, and have proposed a variety of mechanisms to counteract this phenomenon. In this work, we introduce a very broad class of mechanisms which we refer to as early-purchase reward (EPR) programs. Such class includes, but is not limited to strategies such as price-matching, price commitment, and capacity rationing. Confining ourselves to a simple but tractable model, we are able to obtain a complete analytical characterization of the optimal EPR program that a seller should offer to its consumers. Such a program maintains a structure that consists of two components: (1) a promised refund (\"participation bonus\") that segments the market over the course of the season, and (2) a \"modified price matching guarantee\" that serves as a lever to counteract strategic consumer behavior. The latter component protects consumers against price drops, but charges them for the fact that they get to enjoy the product by consuming it earlier rather than later in the season. We find that optimal EPR programs are particularly valuable when the inventory and the degree of fashion are high. We have also conducted a numerical analysis to further compare an EPR program (heuristic) to an optimal price-matching strategy, in a rich modelling framework that consists of market size uncertainty, production costs, mixture of strategic and non-strategic consumers, and more. Our results suggest that EPR programs can be advantageous in settings involving modest-to-high degrees of fashion and high degrees of market size uncertainty, regardless of the percentage of strategic consumers in the market.","PeriodicalId":321987,"journal":{"name":"ERN: Pricing (Topic)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130571483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Three Remarks On Asset Pricing 关于资产定价的三点评论

ERN: Pricing (Topic) Pub Date : 2021-05-24 DOI: 10.2139/ssrn.3852261

Victor Olkhov

{"title":"Three Remarks On Asset Pricing","authors":"Victor Olkhov","doi":"10.2139/ssrn.3852261","DOIUrl":"https://doi.org/10.2139/ssrn.3852261","url":null,"abstract":"We consider the time interval Δ during which the market trade time-series are averaged as the key factor of the consumption-based asset-pricing model that causes modification of the basic pricing equation. The duration of Δ determines Taylor series of investor’s utility over current and future values of consumption. We present consumption at current and future moments as sums of their mean values and perturbations during Δ of the price at current moment t and perturbations of the payoff at day t+1. For linear and quadratic Taylor series approximations of the basic equation we obtain new relations on mean price, mean payoff, their volatilities, skewness and amount of asset ξmax that delivers max to investor’s utility. The stochasticity of market trade time-series defines random properties of the asset price time-series during Δ. We introduce new market-based price probability measure entirely determined by frequency-based probability measures of the market trade value and volume. The conventional frequency-based price probability is a very special case of the market-based price probability measure when all trade volumes during Δ equal unit. Prediction of the market-based price probability at horizon T equals forecast of the market trade value and volume probabilities at same horizon. The similar Taylor series and probability measures alike to market-based price probability can be used as approximations of different versions of asset pricing, financial and economic models that describe relations between economic and financial variables averaged during some time interval Δ.","PeriodicalId":321987,"journal":{"name":"ERN: Pricing (Topic)","volume":"75 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134022669","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 8

Nonlinear Pricing in the Transport Industry and the Gains from Trade 运输行业的非线性定价与贸易收益

ERN: Pricing (Topic) Pub Date : 2021-03-18 DOI: 10.2139/ssrn.3807170

Zheng Han, D. Fujii

引用次数: 2

Real-Time Price Elasticity in Electricity: Evaluating Regression-Based Methods 电力的实时价格弹性:评估基于回归的方法

ERN: Pricing (Topic) Pub Date : 2021-02-23 DOI: 10.2139/ssrn.3732118

J. Chong

引用次数: 0

Reference Pricing for Healthcare Services 医疗保健服务的参考定价

ERN: Pricing (Topic) Pub Date : 2020-12-29 DOI: 10.2139/ssrn.3176280

S. Nassiri, Elodie Adida, H. Mamani

{"title":"Reference Pricing for Healthcare Services","authors":"S. Nassiri, Elodie Adida, H. Mamani","doi":"10.2139/ssrn.3176280","DOIUrl":"https://doi.org/10.2139/ssrn.3176280","url":null,"abstract":"Problem definition: The traditional payment system between an insurer and providers does not incentivize providers to limit their prices, nor patients to choose less expensive providers, hence contributing to high insurer expenditures. Reference pricing has been proposed as a way to better align incentives and control the rising costs of healthcare. In this payment system, the insurer determines the maximum amount that can be reimbursed for a procedure (reference price). If a patient selects a provider charging more than the reference price, the patient is responsible for the entire portion above it. Our goal is to understand how reference pricing performs relative to more traditional payment systems. Academic/practical relevance: Our results can help healthcare leaders understand when reference pricing has the potential to be a successful alternative payment mechanism, what its impact on the different stakeholders is, and how to best design it. Methodology: We propose a game-theoretical model to analyze the reference pricing payment scheme. Our model incorporates an insurer that chooses the reference price, multiple competing price-setting providers, and heterogeneous patients who select a provider based on a multinomial logit choice model. Results: We find that the highest-priced providers reduce their prices under reference pricing. Moreover, reference pricing often outperforms the fixed and the variable payment systems both in terms of expected patient utility and insurer cost but incurs a loss in the highest-priced providers’ profit. Furthermore, we show that in general the insurer utility is often higher under reference pricing unless the insurer is a public nonprofit insurer that weighs the providers’ utility as much as its own cost. Managerial implications: Overall, our findings indicate that reference pricing constitutes a promising payment system for “shoppable” healthcare services as long as the insurer does not act similar to a public nonprofit insurer.","PeriodicalId":321987,"journal":{"name":"ERN: Pricing (Topic)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121778812","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 8

Food Bank Donations and Retail Pricing 食品银行捐赠和零售价格

ERN: Pricing (Topic) Pub Date : 2020-12-06 DOI: 10.2139/ssrn.3743633

John Lowrey, T. Richards, S. Hamilton

{"title":"Food Bank Donations and Retail Pricing","authors":"John Lowrey, T. Richards, S. Hamilton","doi":"10.2139/ssrn.3743633","DOIUrl":"https://doi.org/10.2139/ssrn.3743633","url":null,"abstract":"Food banks are an important part of the food-retailing setting. In 2018, food banks delivered a total of 1.4 billion pounds of donated food to 51.4 million clients. Perhaps more importantly, food banks serve as an important outlet for food that would otherwise be discarded in land-fills, or composted. Despite the economic and social importance of food banks, we know very little of their economic role in food distribution. In this article, we explain the existence of food banks as an essential mechanism to the food-retailing function, permitting food retailers to price-discriminate between high-valuation consumers who visit their stores, and low-valuation consumers who do not. Donating to food banks allows retailers to avoid destructive promotions for fresh products, provide an outlet for over-ordering to prevent stock-outs, and generates valuable tax write-offs. We show how secondary markets for perishable food products improve profitability, and we test the implications of our model using a unique data set of perishable food sales. We find that retailers that take advantage of secondary markets are more profitable than those that do not. Our findings explain the co-existence of traditional food retailers, and food banks.","PeriodicalId":321987,"journal":{"name":"ERN: Pricing (Topic)","volume":" 9","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132123931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1