ERN: Consumption最新文献_第8页

The Optimal Allocation of Longevity Risk with Perfect Insurance Markets 完善保险市场下的长寿风险优化配置

ERN: Consumption Pub Date : 2018-02-12 DOI: 10.2139/ssrn.3121126

A. Bommier, Hélène Schernberg

引用次数: 1

The Illusion of Design: Framing Decisions As a Creative Process Increases Perceived Customization 设计的幻觉:将决策框架作为一个创造性的过程，增加了可感知的定制

ERN: Consumption Pub Date : 2017-12-22 DOI: 10.2139/ssrn.3092296

Alice Moon, M. Bos

{"title":"The Illusion of Design: Framing Decisions As a Creative Process Increases Perceived Customization","authors":"Alice Moon, M. Bos","doi":"10.2139/ssrn.3092296","DOIUrl":"https://doi.org/10.2139/ssrn.3092296","url":null,"abstract":"As technology and big data join forces, consumers are increasingly able to receive customized options. However, despite the abundance of available choice options, people may not necessarily view their choice options as customized to their wants and needs. Across five studies, we provide evidence for a possible psychological solution: Framing choices as a creative process increases a chosen option’s perceived customization, a phenomenon we refer to as the illusion of design. Specifically, even when keeping the choice set constant, choosing by (creative) attributes rather than choosing from all available options produces the illusion of design. Moreover, first providing a blank template further increases perceived customization of the chosen option. The illusion of design arises in part because people feel a greater sense of co-creation when choosing via a seemingly creative process, thereby heightening their perceived customization of the chosen option. Consequently, the illusion of design extends to choices that express preferences (e.g., liking blue over red) and is significantly diminished with choices that describe objective needs (e.g., needing a small versus large T-shirt). Finally, we find that the heightened perceived customization from the illusion of design ultimately results in greater willingness-to-pay for the chosen option.","PeriodicalId":431230,"journal":{"name":"ERN: Consumption","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122803320","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

Decomposing the Variance of Consumer Ratings and the Impact on Price and Demand 消费者评级差异的分解及其对价格和需求的影响

ERN: Consumption Pub Date : 2017-11-23 DOI: 10.1287/isre.2017.0764

Steffen Zimmermann, Philipp Herrmann, Dennis Kundisch, B. Nault

{"title":"Decomposing the Variance of Consumer Ratings and the Impact on Price and Demand","authors":"Steffen Zimmermann, Philipp Herrmann, Dennis Kundisch, B. Nault","doi":"10.1287/isre.2017.0764","DOIUrl":"https://doi.org/10.1287/isre.2017.0764","url":null,"abstract":"Consumer ratings play a decisive role in purchases by online shoppers. Although the effect of the average and the number of consumer ratings on future product pricing and demand have been studied with some conclusive results, the effects of the variance of these ratings are less well understood. We develop a model which considers durable goods that are characterized by three types of attributes: search attributes, experience attributes, and transformed attributes the latter are conventional experience attributes that are transformed by consumer ratings into attributes that can be searched. Using informed search attributes to refer to the combination of search attributes and transformed attributes, we consider two sources of variance of consumer ratings: taste differences about informed search attributes and quality differences in the form of product failure representing experience attributes. We find that (i) optimal price increases and demand decreases in variance caused by informed search attributes, (ii) optimal price and demand decrease in variance caused by experience attributes, and (iii) by holding the average rating as well as the total variance constant, for products with low total variance price and demand increase in the relative share of variance caused by informed search attributes. Counter to intuition, we demonstrate that risk averse consumers may prefer a higher priced product with a higher variance in ratings when deciding between two similar products with the same average rating. Finally, our model provides a theoretical explanation for the empirically observed j-shaped distribution of consumer ratings in e-commerce that differs from established explanations.","PeriodicalId":431230,"journal":{"name":"ERN: Consumption","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121361737","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: 28

Dynamic Mix-Bundling with Limited Inventories 有限库存下的动态混合捆绑

ERN: Consumption Pub Date : 2017-11-02 DOI: 10.2139/ssrn.3062584

Peng Liao, Li Jiang, H. Ye

{"title":"Dynamic Mix-Bundling with Limited Inventories","authors":"Peng Liao, Li Jiang, H. Ye","doi":"10.2139/ssrn.3062584","DOIUrl":"https://doi.org/10.2139/ssrn.3062584","url":null,"abstract":"Consider a revenue-maximizing provider who holds inventories for multiple components and adopts mix-bundling to sell a line of products made up of individual components and bundles that comprise these components. Consumers arrive over a finite time horizon up to the time of consumption and each of them requests a component or a bundle. We first study the setting in which the provider holds inventories for two components and adopts quantity-based control to manage selling, whereby she accepts a consumer request for a product if its price is above the associated marginal value. Our results show that a lower inventory level for a component increases the marginal value of a product that comprises this component – the scarcity effect, and a higher inventory level of a component increases the marginal value of the other component – the complementarity effect. The scarcity effect in general outweighs the complementarity effect in influencing optimal policies. While the value of package decreases as time elapses, that of a specific component is not necessarily monotone with time due to inventory imbalance. In the general setting, the provider has inventories for a number of components and adopts price-based control to manage selling. We develop and apply a heuristics to dynamically decide bundle set, component selling prices and bundle discount, to find that the value of mix-bundling in revenue generation depends crucially on the correlation of consumer valuations for components, as well as the availability and dispersion of initial component inventories.","PeriodicalId":431230,"journal":{"name":"ERN: Consumption","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115216686","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

The Trade-Off between Scoring and Competitive Balance in Basketball 篮球运动中得分与竞争平衡的权衡

ERN: Consumption Pub Date : 2017-10-11 DOI: 10.2139/ssrn.3051090

Arne Büschemann, C. Deutscher

引用次数: 0

Switching Energy Suppliers: It's Not All about the Money 更换能源供应商:不全是钱的问题

ERN: Consumption Pub Date : 2017-08-21 DOI: 10.2139/ssrn.3024534

D. Deller, M. Giulietti, G. Loomes, C. Price, Ana Moniche Bermejo, J. Jeon

引用次数: 26

Consumer Learning and the Entry of Generic Pharmaceuticals 消费者学习和仿制药的进入

ERN: Consumption Pub Date : 2017-08-01 DOI: 10.3386/W23662

N. Bairoliya, P. Karaca-Mandic, J. McCullough, Amil Petrin