Dynamic Price Competition: An Application to Online Markets for Perishable Goods
2015/05/12
研討會日期 : 2015-05-12
時間 : 14:30
主講人 : Professor Chung-Ying Lee
主持人 : Professor Stacey Chen
地點 : Conference Room B110
演講者簡介 : Professor Lee received his Ph.D. in Economics from Duke University in 2014. He is currently an Assistant Professor at National Taiwan University. His research fields are Empirical Industrial Organization, Applied Econometrics, Health Economics, Marketing, and Pricing Strategy.
演講摘要 : Most revenue management models of dynamic pricing assume that the seller is a monopolist. However, in many settings even the largest sellers face significant competition, and it is important to understand how the presence of these competitors may affect optimal pricing policies and equilibrium outcomes. We investigate these effects by building a model that captures many features of a particular on-line market for event tickets where one large seller faces a very large fringe of smaller sellers. We use our model to assess the optimality of the large seller's current pricing policies and also to assess the equilibrium effects of changing many of the parameters of our model under different assumptions about the sophistication of smaller sellers and the ability of the large seller to commit to a pricing policy.
