產(chǎn)業(yè)經(jīng)濟(jì)學(xué)seminar

【時間】2017年4月19日（周三）12：00－13：30

【地點】明主729會議室  
 
【主講】許敏波 北京師范大學(xué)經(jīng)濟(jì)與工商管理學(xué)院  
【主題】What Brings a Consumer Back for More? Evidence from Quantifiable Gain and Loss Experiences in Penny Auctions  
【點評】劉小魯 中國人民大學(xué)經(jīng)濟(jì)學(xué)院副教授  
 
 
【摘要】Evidence increasingly points to the importance of reference-dependence in predicting consumer behavior. We utilize detailed data from penny auctions, which first appeared as an internet phenomenon in the late 2000’s, to uncover how consumers’ prior experiences predict their willingness to try a new experience again. The penny auction setting allows us to concretely quantify consumers’ positive and negative experiences, which avoids the measurement challenges typical in other settings. We find the following empirical patterns, which bear intuitive resemblance to reference-dependent behavior: First, consumers’ tendency to return is at least weakly increasing in the outcome from their prior experience; Second, consumers’ return rate on marginal loss experiences drops more steeply than it increases for marginal gain experiences; Third, consumers have an aversion to losing at any level, which makes them discontinuously less likely to return after any loss compared to after a gain. We derive the conditions on utility functions and reference point updating needed in order to account for our empirical findings. Finally, we examine the bracketing tendencies of consumers in calculating their gains and losses after repeated experiences, and find that consumers tend to bracket narrowly, with the aforementioned patterns appearing most strongly as a function of their most recent experience. This is consistent with the intuition that consumers have short memories, and that a recent bad experience is likely to drive them away permanently, in spite of previous positive experiences.   
 
 
【主講人介紹】  
許敏波，北京師范大學(xué)經(jīng)濟(jì)與工商管理學(xué)院講師。喬治城大學(xué)取得博士學(xué)位。  
主要研究方向為應(yīng)用微觀經(jīng)濟(jì)學(xué)、產(chǎn)業(yè)組織理論、博弈論和勞動經(jīng)濟(jì)學(xué)。   
歡迎相關(guān)領(lǐng)域老師和同學(xué)關(guān)注并參加！如有意作為點評老師或宣講學(xué)生參加前沿文獻(xiàn)選讀活動，可以聯(lián)系經(jīng)濟(jì)學(xué)院李三希老師 （sanxi@ruc.edu.cn）或者學(xué)生助理陳奕辰（chenyichen@ruc.edu.cn）。  
 
 
--  
      產(chǎn)業(yè)經(jīng)濟(jì)學(xué)研討會          人民大學(xué)經(jīng)濟(jì)學(xué)院