Dynamic production and pricing decisions in the presence of the snob effect
Dynamic production and pricing decisions in the presence of the snob effect
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DOI：
10.1111/itor.12961
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发表时间：
2021-03
期刊：
影响因子：
--
通讯作者：
Keita Sogo;Nobuo Matsubayashi
中科院分区：
文献类型：
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作者：
Keita Sogo;Nobuo Matsubayashi
本研究分析了存在势利效应的垄断企业的生产和定价策略，即当产品的可用性较低时，消费者会更重视产品。真实的世界的公司经常通过战略性地减少供应量甚至造成短缺来故意造成势利效应。这一观察结果表明，在利用势利效应和避免机会成本之间存在权衡。我们考虑了一个一般的多期模型，其中垄断企业决定价格和销售量的动态路径，虽然消费者没有前瞻性，他们评估过去的缺货折扣因子。我们发现，价格和产量水平的最优动态路径取决于消费者的敏感度缺货，消费者的折扣因子对过去的短缺，和公司的折扣因子对未来利润。然而，总利润随着消费者对缺货的敏感程度而单调增加。
This study analyzes the production and pricing strategy of a monopoly firm in the presence of the snob effect, whereby consumers value a product more when its availability is lower. Real‐world firms often intentionally cause the snob effect by strategically reducing supply quantities or even causing shortages. This observation suggests the existence of a trade‐off between utilizing the snob effect and avoiding opportunity costs. We consider a general multiperiod model in which a monopoly firm determines the dynamic paths of price and sales quantity; although consumers are not forward looking, they evaluate past stockouts with a discount factor. We find that the optimal dynamic paths of the price and output level vary depending on the degree of consumer sensitivity to stockouts, the consumer's discount factor on past shortage, and the firm's discount factor on future profit. Nevertheless, the total profit monotonically increases with the degree of consumer sensitivity to stockouts.