Durable Goods Pricing with Reference Price Effect
Research output: Conference Papers › RGC 32 - Refereed conference paper (without host publication) › peer-review
Author(s)
Related Research Unit(s)
Detail(s)
Original language | English |
---|---|
Publication status | Published - 24 Jun 2012 |
Conference
Title | INFORMS 2012 International Beijing |
---|---|
Place | China |
Period | 24 - 27 June 2012 |
Link(s)
Permanent Link | https://scholars.cityu.edu.hk/en/publications/publication(8cfea6fe-f2a3-43d2-8a67-cfc09f9d5ed8).html |
---|
Abstract
A price benchmark shaped by customers based on their perception of past prices is known as a reference price. While the existence of reference price effect is evident for a variety of consumable and durable products, such an effect has been overlooked in the durable goods pricing literature. This study incorporates the reference price effect into a dynamic pricing model, wherein the saturation effect associated with selling a durable good is present.
Citation Format(s)
Durable Goods Pricing with Reference Price Effect. / Zhang, Jie; CHIANG, Wei Yu.
2012. Paper presented at INFORMS 2012 International Beijing, China.
2012. Paper presented at INFORMS 2012 International Beijing, China.
Research output: Conference Papers › RGC 32 - Refereed conference paper (without host publication) › peer-review