Results 241 to 250 of about 461,585 (337)

Dynamic Pricing With Recommendation and Consumer Feedback

open access: yesThe RAND Journal of Economics, EarlyView.
ABSTRACT A long‐lived seller sells a new product of unknown value by offering prices and recommendations to short‐lived consumers in continuous time. The seller receives consumer feedback about the product at a rate that increases with the instantaneous sales volume.
Wenji Xu, Shuoguang Yang
wiley   +1 more source

The Political Economy of Patent Buyouts

open access: yesThe RAND Journal of Economics, EarlyView.
ABSTRACT Incentivizing innovation through buyouts may alleviate the social costs associated with patent power, but the political economy and feasibility of this potentially important financing mechanism have been understudied. We study an international setting of countries with different innovation and financing capabilities, and where financing ...
Amal Ahmad   +2 more
wiley   +1 more source

Stable Price Dispersion under Heterogeneous Buyer Consideration

open access: yesThe RAND Journal of Economics, EarlyView.
ABSTRACT We study the pricing of homogeneous products sold to customers who consider different sets of suppliers. We identify prices that are stable in the sense that no firm wishes to undercut a rival or to raise its price when rivals are able to respond by offering special deals.
David P. Myatt, David Ronayne
wiley   +1 more source

Inflated Recommendations

open access: yesThe RAND Journal of Economics, EarlyView.
ABSTRACT Biased recommendations arise naturally in markets with heterogeneous consumers. We study a model in which a monopolist offers an experience good to a population of consumers with heterogeneous tastes and makes personalized purchase recommendations.
Martin Peitz, Anton Sobolev
wiley   +1 more source

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