Selling Subscriptions
研究了企业销售订阅的一个好处：消费者可能继续为不再看重的订阅付费。利用支付卡网络数据，发现卡片更换月份（需主动续订）的取消率更高。通过两个消费者惯性模型估计，取消摩擦使卖家收入平均翻倍，并探讨了监管措施的影响。
We study one benefit to firms of selling subscriptions: the prospect that consumers will continue to pay for subscriptions they no longer value. We use comprehensive data from a large payment card network to document that months during which cards are replaced, when active renewal is required, are associated with much higher rates of cancellation. Using two stylized models of consumer inertia—driven by inattention or switching costs—we estimate that these cancellation frictions roughly double seller revenues on average, holding fixed initial subscribers. We use the estimated models to explore the impact of possible regulatory remedies.