损失厌恶
品牌忠诚度
采购
利润(经济学)
忠诚
经济盈余
经济
微观经济学
风险厌恶(心理学)
业务
营销
广告
福利
期望效用假设
金融经济学
市场经济
作者
Qin Zhou,Kum Fai Yuen,Yusen Ye
标识
DOI:10.1080/14783363.2021.1933423
摘要
Trade-in promotions allow consumers to turn in old products and receive a discount for purchasing a new item. Firms usually price discriminate consumers based on their purchase history (i.e. new or existing customers). However, behavioural research has shown that consumers exhibit loss aversion and brand loyalty after consuming a product that may influence economic outcomes. This paper examines the impact of consumers' loss aversion and brand loyalty behaviour on firms' trade-in promotion pricing strategy, profits, consumer surplus, and social welfare. Contrary to prior game theory research that generally shows that price discrimination based on purchase histories eventually results in lower profits for all firms, we find that firms' profits from conducting price discrimination can increase with consumers' loss aversion behaviour. We consider two scenarios where firms recognise and do not recognise consumers' loss aversion and brand loyalty behaviour. We find that the profit with behaviour recognition is higher than that without behaviour recognition under the condition that consumers' loss aversion concerns are sufficiently strong. However, both loss aversion and brand loyalty decrease consumer surplus. Besides, consumers' loss aversion and brand loyalty behaviour can increase social welfare because they can reduce inefficient switching.
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