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Optimal preorder strategy with endogenous information control / Leon Yang Chu in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1055-1077 Titre : Optimal preorder strategy with endogenous information control Type de document : texte imprimé Auteurs : Leon Yang Chu, Auteur ; Zhang, Hao, Auteur Année de publication : 2011 Article en page(s) : pp. 1055-1077 Note générale : Management Langues : Anglais (eng) Mots-clés : Preorder  Advance  selling  Information  release  Consumer  valuation  control Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : In this paper, we investigate the integrated information and pricing strategy for a seller who can take customer preorders before the release of a product. The preorder option enables the seller to sell a product at an early stage when consumers are less certain about their valuations. We find that the optimal pricing strategy may be highly dependent on the amount of information available at preorder and that a small change in the latter may cause a dramatic change in the proportion of consumers who preorder under optimal pricing. Furthermore, the seller's optimal information strategy depends on a key measure, the normalized margin, which is the ratio between the expected profit margin and the standard deviation of consumer valuation. Although the seller may want to release some information or none, she should never release all information. Finally, under the optimal information and pricing strategy, the benefit of preorder is most pronounced when the normalized margin is in a medium range. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Optimal preorder strategy with endogenous information control [texte imprimé] / Leon Yang Chu, Auteur ; Zhang, Hao, Auteur . - 2011 . - pp. 1055-1077. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1055-1077 Mots-clés : Preorder  Advance  selling  Information  release  Consumer  valuation  control Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : In this paper, we investigate the integrated information and pricing strategy for a seller who can take customer preorders before the release of a product. The preorder option enables the seller to sell a product at an early stage when consumers are less certain about their valuations. We find that the optimal pricing strategy may be highly dependent on the amount of information available at preorder and that a small change in the latter may cause a dramatic change in the proportion of consumers who preorder under optimal pricing. Furthermore, the seller's optimal information strategy depends on a key measure, the normalized margin, which is the ratio between the expected profit margin and the standard deviation of consumer valuation. Although the seller may want to release some information or none, she should never release all information. Finally, under the optimal information and pricing strategy, the benefit of preorder is most pronounced when the normalized margin is in a medium range. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc