組織經濟學seminar136期
發文時間:2024-03-12

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題目:Limited Time Offer and Consumer Search

時間:2024年3月14日10:30-12:00

地點明德主樓729

匯報人:宮鄭(多倫多大學管理學博士;香港中文大學(深圳)助理教授)

主持人:趙瑋(中國人民大學經濟學院講師)

摘要

This paper studies a sales tactic that is commonly seen but theoretically under-explored: the limited-time offer. We argue that when consumers require time to evaluate their options, firms have an incentive to employ limited-time offers in order to influence the endogenous search order. By analyzing markets with and without competition, we demonstrate that for firms, limited-time offers are often strictly more profitable than uniform pricing for gaining search prominence, and firms with higher reservation values are more inclined to utilize limited-time offers as their optimal pricing strategy. In particular, in the equilibrium of a competitive market, the firm with the higher reservation value offers discounts within a shorter time window than its competitors, and consumers sample this firm earlier. We illustrate across various model setting shows limited-time offers serve as an effective pricing tool for firms to manipulate the search order and the impact of this mechanism on social welfare. Complementing previous findings in the literature, we discover that limited-time offers may increase total welfare by inducing a more socially efficient search order compared to uniform pricing.

個人簡介

宮鄭于2022年在多倫多大學羅特曼管理學院獲得管理學博士學位(經濟分析和政策領域)。在此之前,他在北京大學獲得天文學和經濟學學士學位,并在西班牙貨幣與金融研究中心獲得經濟學碩士學位。他的研究領域包括定量營銷、社交媒體、數字經濟、產業組織和應用微觀經濟理論。他的研究發布在《Management Science》等學術期刊上,并獲得了多項學術獎項,包括Sheth Foundation ISMS博士論文獎和EARIE的青年經濟學家論文獎。