Pricing Strategy under Reference-Dependent Preferences: Evidence from Sellers on StubHub
2015/10/13
研討會日期 : 2015-10-13
時間 : 14:30
主講人 : Professor Jian-Da Zhu
主持人 : Professor Wei-Torng Juang
地點 : Conference Room B110
演講者簡介 : Professor Zhu received his Ph.D. in Economics from Texas A&M University at 2014. He is currently an Assistant Professor at National Taiwan University. His research fields are Industrial Organization, Applied Microeconomics, and Econometrics.
演講摘要 : This paper uses both listing and transaction data on StubHub to study how different types of sellers price their tickets. Two types of sellers, brokers and single sellers, are identified from the data. Single sellers only sell tickets in one or two games during the whole season; brokers sell lots of tickets in one given game, and also during one season they sell tickets in most of the games. The result shows that prices set by brokers are relative higher than those set by single sellers in the early days before the event, but the prices are inversely switched in the last few days before the game. This paper proposes a pricing model based on the reference-dependent preferences which can capture the pricing behavior of single sellers. Single sellers tend to use the original purchase prices as the reference point to decide the listing prices every day before the event.
