Altruistic Dynamic Pricing with Customer Regret
研究企业将消费者因价格意外变动产生的遗憾成本内部化,发现这能解释为何刚性价格企业的涨价幅度对通胀不敏感,且比固定成本模型导致更多变的价格变动,并有助于合理化提前宣布涨价的做法。
Abstract A model is considered in which firms internalize the costly regret that consumers experience when prices change unexpectedly. This regret is greater when prices change by more, and this can explain why the actual size of price increases for firms with rigid prices is less sensitive to inflation than in models with fixed costs of changing prices. Regret costs of this form also lead to more variable price changes than fixed costs do. Last, the practice of announcing price increases in advance is easier to rationalize with regret concerns by consumers than with more standard approaches to price rigidity.