Managing product value uncertainty: The role of ex ante product value delivery
研究在线零售商如何通过事前产品价值传递策略（如展示信息、开设虚拟或实体展厅）解决产品价值不确定性问题，发现提高价格可能比降价更优，并分析了与事后退货政策的互动。
This study investigates how online retailers should solve the problem of product value uncertainty through an ex ante product value delivery policy. We construct an endogenous matching probability model depending on the ex ante strategic choice among various product value delivery measures, such as displaying product information online, opening product reviews, building a virtual showroom, and building a physical showroom. This model is different from the exogenous matching probability assumption in the literature. When the matching probability is exogenously given, the retail price reduction policy is commonly used to mitigate product value uncertainty. In contrast, when retailers can determine the matching probability through the ex ante strategic choice for the product value delivery measures, increasing the retail price to rely more on ex ante value delivery may be optimal in the mitigation of a more serious product value uncertainty. In addition, we examine the interaction between the ex ante product value delivery and the ex post return policy. The results show that the adoption of the ex post mitigation policy may encourage or discourage the adoption of the ex ante mitigation policy depending on the cost input for product value delivery and the customers’ surplus loss caused by a mismatch.