Waterfall Versus Sprinkler Product Launch Strategy: Influencing the Herd
研究了卖家如何定价并选择产品推向消费者的顺序，发现平均价格随时间下降但预期收入上升，且在高折现因子下极端信念时面向所有消费者，中间信念时只面向一人。
A seller decides the price and sequence in which a product of unknown value is introduced to consumers. Consumers inspect the product before consumption and observe past prices and sales. Consumption at a high price is informative for later consumers as it indicates that the product is likely to be of high value. I show that on an average prices decrease over time. However, expected revenue on an average rises over time. For a high enough discount factor, I find that for extreme beliefs the firm introduces the product to all consumers but for intermediate values the product is introduced only to one consumer.