Dynamic Pricing of Fashion-Like Multiproducts with Customers’ Reference Effect and Limited Memory
Dynamic Pricing of Fashion-Like Multiproducts with Customers’ Reference Effect and Limited Memory
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具有顾客参考效应和有限记忆的时尚多产品动态定价
DOI：
10.1155/2014/157865
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发表时间：
2014
影响因子：
--
通讯作者：
Guo Li
中科院分区：
文献类型：
--
作者：
Mengqi Liu;Wenjie Bi;Xiaohong Chen;Guo Li
研究了消费者具有参考效应和记忆窗口的服装零售商动态定价问题。基于Baucells等人（2011）的理论，我们提出了一种新的服装纺织品参考价格更新机制，其中消费者具有一个有界的记忆窗口，并且在任何记忆窗口中的第一个和最近的价格上都有锚。此外，我们研究了这种机制对零售商销售多种时尚类产品的最优定价策略的影响，并分析了最优价格的稳定性，单调性和收敛性。对于两种产品的情况，我们发现，对于其他相同的产品，一个核心产品的稳态价格低于一个非核心产品。我们计算零售商的收入损失，如果他不正确地假设参考价格效应是在产品水平和价格的产品单独。此外，如数值结果所示，我们的模型是一个灵活的方式来制定定价策略，如果零售商可以预期的消费者的记忆窗口的长度。
We study a fashion retailer’s dynamic pricing problem in which consumers present reference effect and memory window. Based on the theory of Baucells et al. (2011), we propose a new reference-price updating mechanism in fashion and textile (FT) industry where consumers have a bounded memory window and anchor on the first and most recent price in any memory window. Moreover, we study the impacts of this mechanism on optimal pricing policy for a retailer selling multiple fashion-like products and analyze optimal price’s steady state, monotonicity, and convergence. For two-product case, we find that, for otherwise identical products, the steady-state price of a core product is lower than that of a noncore product. We compute the retailer’s loss of revenue if he incorrectly assumes the reference-price effect to be at the product level and prices the products individually. Further, as illustrated with numerical results, our model is a flexible way to make pricing strategy if the retailer can anticipate the length of consumers’ memory window.
影响因子：
5.4
作者：
Baucells, Manel;Weber, Martin;Welfens, Frank
通讯作者：
Welfens, Frank