Managerial Regret and Inventory Pricing
研究了后悔情绪如何影响卖家在有限时间内销售固定数量商品的定价决策，发现后悔导致定价低于无偏卖家，但定价策略结构相似，且库存增加不一定带来更高收入。
In this paper, we study a regretful seller’s problem of selling a fixed number of goods over a finite and known time horizon. The seller engages in counterfactual thinking to compare her selected price with other forgone alternatives. If a forgone alternative (ex post) generates a better outcome than the selected one, then the seller experiences regret. We characterize the pricing decision of a regretful seller and find that, although regret leads the seller to set a price that is lower than that set by an unbiased seller, the regretful seller employs decision policies whose structure is similar to those of the unbiased seller: the price decreases with the remaining inventory and increases with the time-to-go. Interestingly, we find that the seller who has a greater number of goods does not necessarily receive greater revenue. This paper was accepted by Manel Baucells, behavioral economics and decision analysis.