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讲座:Product Fit Uncertainty and Strategic Return and Refund Policy

发布者:经济系    发布时间:2018-10-09

经济学系列学术讲座

    目:Product Fit Uncertainty and Strategic Return and Refund Policy

演讲人:李三希,副教授,中国人民大学

主持人:徐晓书   副教授 上海交通大学安泰经济与管理学院经济系

   间:2018 10 19 日(周五)  14:30-16:00

   点:上海交通大学     徐汇校区新上院 S201


演讲内容简介:

This paper investigates the optimal pricing and return policies in a duopoly market, where two firms sell horizontally differentiated products, and consumers with heterogeneous preferences have prior uncertainty about the products' fit to the consumers' preferences. We show that the return policies chosen by competing firms can be either strategic complements or substitutes, depending on the adequacy of consumers' pre-purchase information. When consumers have no pre-purchase information, the two firms adopt differentiated return policies to ease the price competition: One firm accepts returns at the expense of consumers, and the other does not accept returns. However, when consumers are sufficiently informed beforehand, it is important for firms not to lose an edge on the return policy, which leads to both firms accepting returns as long as the consumers pay for the costs. Moreover, whether the equilibrium prices increase or decrease with the return costs depends on who bears the costs. The analysis yields several managerial insights. First, firms that proactively provide a return and refund policy enjoy first-mover advantage. Second, if a firm decides to accept returns, it should never promise to refund all costs. However, if this is the case, the firm with a full-refund return policy charges a lower price than the firm with a no-return policy because the first firm has a strong incentive to avoid costly returns. Third, given a competitor's choice of accepting returns, a firm should not accept returns to avoid intense price competition if consumers are poorly informed and should keep up with the competition if consumers are well informed.

讲人简介:

李三希,中国人民大学副教授,中国人民大学“杰出学者”青年学者,SSCI期刊Journal of Economics 副主编,研究领域为信息经济学和产业组织理论。2004年于武汉大学获经济学学士学位,2011年于法国图卢兹经济学院获经济学博士学位。近5年内总共发表论文二十余篇,发表的期刊包含国内外顶尖期刊Management ScienceJournal of Public EconomicsJournal of Economics Theory、《经济学(季刊)》、《世界经济》、《中国工业经济》等。主持国家自科面上项目,国家自科青年项目,教育部人文社科青年项目,北京市社科联青年项目各一项,主持中国人民大学校内面上项目若干项。2016年入选第四届环球时报希望英才计划。2017年获中国信息经济学会 “乌家培奖”。


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