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Pricing Experience Goods
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Book Synopsis Pricing Experience Goods by : Bing Jing
Download or read book Pricing Experience Goods written by Bing Jing and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a two-period model of nondurable experience goods, we compare the profit and social welfare effects of behavior-based price discrimination (BBPD) and price commitment (PC) (relative to time-consistent pricing) in a monopoly. We find that when the static, full-information monopoly price is higher (lower) than the mean consumer valuation, PC yields higher (lower) profits and social welfare than BBPD. We also identify the market conditions under which BBPD does not increase firm profits and provide an explanation as to when the firm should discriminate against its first-time and repeat customers, respectively.
Book Synopsis The Experience Economy by : B. Joseph Pine
Download or read book The Experience Economy written by B. Joseph Pine and published by Harvard Business Press. This book was released on 1999 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products.
Book Synopsis Dynamic Pricing of Experience Goods in Markets with Demand Uncertainty by : Yu-Hung Chen
Download or read book Dynamic Pricing of Experience Goods in Markets with Demand Uncertainty written by Yu-Hung Chen and published by . This book was released on 2018 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies a firm's optimal dynamic pricing strategies for its new experience goods inmarkets where the distribution of consumers' valuations is ex ante unknown. We examine whetherand how the firm facing information asymmetry and demand uncertainty can signal its high qualityand learn market demand through its pricing strategy. First, we find that a high-quality firm cancredibly reveal its true quality in the early period with either a skimming-pricing strategy or apenetration-pricing strategy under different conditions. Second, though a high-quality firm canbenefit more from learning market demand than a low-quality firm, the high-quality firm may inequilibrium adopt a penetration-pricing strategy to forgo the benefit of learning demand in orderto separate from the low-quality firm, who would adopt a skimming strategy to learn marketdemand. Third, although consumers have higher willing-to-pay for a high-quality product, thehigh-quality firm may in equilibrium charge a lower initial price than the low-quality firm. Fourth,interestingly, the high-quality firm may earn higher profits when its initial price is made underdemand uncertainty than under no uncertainty. Lastly, with perfect social learning (i.e., in the laterperiod, all consumers can learn the firm's quality from earlier customers), the high-quality firmcan in equilibrium signal its quality and learn market demand by adopting a skimming strategy.
Book Synopsis Optimal Pricing of Experience Goods by : Carl Shapiro
Download or read book Optimal Pricing of Experience Goods written by Carl Shapiro and published by . This book was released on 1982 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of the Economics of Wine by : Orley Ashenfelter
Download or read book Handbook of the Economics of Wine written by Orley Ashenfelter and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 1. Prices, finance, and expert opinion -- Volume 2. Reputation, regulation, and market organization
Book Synopsis Experience Goods, Customer Loyalty, and Sticky Prices in a Dynamic Market by : Steven A. Sharpe
Download or read book Experience Goods, Customer Loyalty, and Sticky Prices in a Dynamic Market written by Steven A. Sharpe and published by . This book was released on 1986 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Management written by Hermann Simon and published by North-Holland. This book was released on 1989 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a completely updated translation of the German standard work "Preismanagement", a volume which was quoted in the International Journal of Research in Marketing as "a pioneering work in pricing" and was rated highest among eight international pricing books by a comparative survey in Die Betriebswirtschaft. An English language edition was thus more than warranted as underlined by some prepublication comments: "... The major contribution of the book is the fact that it introduces the English speaking reader to research on pricing from the German literature. It is for that reason alone that the book will appeal to many academicians in the USA and in other non-German speaking countries.............the book represents, in my opinion, the very best review of empirial work in the pricing area...............I also anticipate the book to be widely read by managers since pricing has become of the utmost concern to them. It provides them with a very useful conceptual framework and it also gives them useful advice on relevant topics such as pricing in inflationary times, the impact of taxation on pricing, and pricing under uncertainty." G. Assmus, The Amos Tuck School of Business Administration, Dartmouth College, Hanover, USA. "The book should become the text of choice at the best institutions." R. Schmalensee, Massachusetts Institute of Technology, Cambridge Institute of Technology, USA. Price Management attempts to bridge the gap between the theory and the practice of pricing. Emphasis is placed upon the problems of applying theoretical structures and detailed recommendations are given about when and how certain techniques should - and should not - be used. Particular attention is given to pricing strategy over the product life cycle and under changing competitive conditions. Both academics and professionals will find this book of value. The book is a 'must' for any business, management and economics library.
Book Synopsis The Worth of Goods by : Jens Beckert
Download or read book The Worth of Goods written by Jens Beckert and published by Oxford University Press. This book was released on 2011-06-23 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on theory and empirical research, this interdisciplinary book brings together leading social scientists to examine how prices are set and how values emerge inside and outside of markets, which have become the central force in the contemporary economy.
Book Synopsis What is in a Price? by : Daniela Rroshi
Download or read book What is in a Price? written by Daniela Rroshi and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategic Waiting for Consumer-Generated Quality Information by : Man Yu
Download or read book Strategic Waiting for Consumer-Generated Quality Information written by Man Yu and published by . This book was released on 2013 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we study the impact of consumer-generated quality information (e.g., consumer reviews) on a firm's dynamic pricing strategy in presence of strategic consumers. Such information is useful, not only to the consumers that have not yet purchased the product, but also to the firm. The informativeness of the consumer-generated quality information depends, however, on the volume of consumers who share their opinions and, thus, depends on the initial sales volume. Hence, via its initial price, the firm not only influences its revenue but also controls the quality information flow over time. The firm may either enhance or dampen the quality information flow via increasing or decreasing initial sales. The corresponding pricing strategy to steer the quality information flow is not always intuitive. Compared to the case without consumer-generated quality information, the firm may reduce the initial sales and lower the initial price. Interestingly, the firm may get strictly worse off due to the consumer-generated quality information. Even when the firm benefits from consumer-generated quality information, it may prefer less accurate information. Finally, consumer surplus can also decrease due to the consumer-generated quality information, contrary to the conventional wisdom that word-of-mouth should help consumers.
Book Synopsis Experience Goods, Customer Loyalty, and Sticky Prices in a Dynamic Market by : Steven Alan Sharpe
Download or read book Experience Goods, Customer Loyalty, and Sticky Prices in a Dynamic Market written by Steven Alan Sharpe and published by . This book was released on 1986 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Competition and Reputation in Markets for Experience Goods by : Steffen Huck
Download or read book Price Competition and Reputation in Markets for Experience Goods written by Steffen Huck and published by . This book was released on 2013 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monopoly Pricing of Experience Goods by : Dirk Bergemann
Download or read book Monopoly Pricing of Experience Goods written by Dirk Bergemann and published by . This book was released on 2004 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Art of Pricing by : Rafi Mohammed
Download or read book The Art of Pricing written by Rafi Mohammed and published by Crown Pub. This book was released on 2005 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Furnishes a practical and easy-to-understand guide on how to use pricing to increase hidden profits and develop new growth opportunities, offering helpful advice, strategies, and techniques for increasing profit margins. 20,000 first printing.
Book Synopsis Price and Quality Cycles for Experience Goods by : Douglas Gale
Download or read book Price and Quality Cycles for Experience Goods written by Douglas Gale and published by . This book was released on 1992 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dynamic Pricing of New Experience Goods by : Dirk Bergemann
Download or read book Dynamic Pricing of New Experience Goods written by Dirk Bergemann and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a dynamic model of experience goods pricing with independent private valuations. We show that the optimal paths of sales and prices can be described in terms of a simple dichotomy. In a mass market, prices are declining over time. In a niche market, the optimal prices are initially low followed by higher prices that extract surplus from the buyers with a high willingness to pay. We consider extensions of the model to integrate elements of social rather than private learning and turnover among buyers.
Book Synopsis Strategies in Markets for Experience and Credence Goods by : Men-Andri Benz
Download or read book Strategies in Markets for Experience and Credence Goods written by Men-Andri Benz and published by Springer Science & Business Media. This book was released on 2007-11-03 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: The quality and characteristics of industrial and consumption goods are often not revealed until after consumption. However, the decision to buy these products must be made before buying. Many strategies and instruments for signalling and screening have been developed in the economic world in order to overcome potential market failure due to insufficient quality detection. In many situations, efficient incentives and quality revelation are given to the market players by contracts that structure the process and payments of the transaction.
