Social learning and dynamic pricing of durable goods

Marketing Science

Volumn 30, Issue 5, 2011, Pages 851-865

  Jing, Bing ^a  

^a Center for AI and Institutions at CKGSB   (China)

Author keywords

Durable goods; Dynamic pricing; Social learning

Indexed keywords

EID: 80053954658     PISSN: 07322399     EISSN: 1526548X     Source Type: Journal    
DOI: 10.1287/mksc.1110.0649     Document Type: Article

References (47)

1. Anderson, S. P., R. Renault. 2009. Comparative advertising: Disclosing horizontal match information. RAND J. Econom. 40(3) 558-581.
2. Banerjee, A. V. 1992. A simple model of herd behavior. Quart. J. Econom. 107(3) 797-817.
3. Banerjee, A. V. 1993. The economics of rumours. Rev. Econom. Stud. 60(2) 309-327.
4. Barnes, B. 2010. Disney uses cliffhanger to market Toy Story 3." New York Times (May 1), http://www.nytimes.com/2010/05/01/movies/01pixar.html.
5. Bass, F. 1969. A new product growth model for consumer durables. Management Sci. 15(5) 215-227.
6. Bergemann, D., J. Välimäki. 2006. Dynamic pricing of new experience goods. J. Political Econom. 114(4) 713-743.
7. Bikhchandani, S., D. Hirshleifer, I. Welch. 1992. A theory of fads, fashion, custom, and cultural change as informational cascades. J. Political Econom. 100(5) 992-1026.
8. Biyalogorsky, E., E. Gerstner, B. Libai. 2001. Customer referral management: Optimal reward programs. Marketing Sci. 20(1) 82-95.
9. Bulow, J. 1982. Durable-goods monopolists. J. Political Econom. 90(2) 314-332.
10. Bulow, J. 1986. An economic theory of planned obsolescence. Quart. J. Econom. 101(4) 729-750.
11. Bundgaard-Neilson, M. 1976. The international diffusion of new technology. Tech. Forecasting Soc. Change 8(4) 365-370.
12. Chevalier, J. A., D. Mayzlin. 2006. The effect of word of mouth on sales: Online book reviews. J. Marketing Res. 43(3) 345-354.
13. Coase, R. H. 1972. Durability and monopoly. J. Law Econom. 15(1) 143-149.
14. Conlisk, J., E. Gerstner, J. Sobel. 1984. Cyclic pricing by a durable goods monopolist. Quart. J. Econom. 99(3) 489-505.
15. Deneubourg, J.-L., S. Goss, J. M. Pasteels, D. Fresneau, J. P. Lachaud. 1987. Self-organization mechanisms in ant societies (II): Learning in foraging and division of labor. J. M. Pasteels, J.-L. Deneubourg, eds. From Individual to Collective Behavior in Social Insects. Birkhäuser, Basel, Switzerland, 177-196.
16. Desai, P., D. Purohit. 1998. Leasing and selling: Optimal marketing strategies for a durable goods firm. Management Sci. 44(11, Part 2) S19-S34.
17. Dodson, J. A., Jr., E. Muller. 1978. Models of new product diffusion through advertising and word-of-mouth. Management Sci. 24(15) 1568-1578.
18. Easingwood, C. J., V. Mahajan, E. Muller. 1983. A nonuniform influence innovation diffusion model of new product acceptance. Marketing Sci. 2(3) 273-295.
19. Edgar, R. 2009. Burberry targets the Facebook generation with social network. Financial Times (September 17), http://www.ftchinese.com/story/001028775/en/?print=y.
20. Ellison, G., D. Fudenberg. 1993. Rules of thumb for social learning. J. Political Econom. 101(4) 612-643.
21. Ellison, G., D. Fudenberg. 1995. Word-of-mouth communication and social learning. Quart. J. Econom. 110(1) 93-125.
22. Farrell, J., G. Saloner. 1986. Installed base and compatibility: Innovation, product preannouncements, and predation. Amer. Econom. Rev. 76(5) 940-955.
23. Godes, D., D. Mayzlin. 2004. Using online conversations to study word-of-mouth communication. Marketing Sci. 23(4) 545-560.
24. Grossman, G., C. Shapiro. 1984. Informative advertising with differentiated products. Rev. Econom. Stud. 51(1) 63-81.
25. Horsky, D. 1990. A diffusion model incorporating product benefits, price, income and information. Marketing Sci. 9(4) 342-365.
26. Horsky, D., K. Mate. 1988. Dynamic advertising strategies of competing durable good products. Marketing Sci. 7(4) 356-367.
27. Kalish, S. 1985. New product adoption model with price, advertising, and uncertainty. Management Sci. 31(12) 1569-1585.
28. Katona, Z., M. Sarvary. 2008. Network formation and the structure of the commercial World Wide Web. Marketing Sci. 27(5) 764-778.
29. Katz, M. L., C. Shapiro. 1985. Network externalities, competition, and compatibility. Amer. Econom. Rev. 75(3) 424-440.
30. Krishnan, T. V., F. M. Bass, D. C. Jain. 1999. Optimal pricing strategy for new products. Management Sci. 45(12) 1650-1663.
31. Levinthal, D. A., D. Purohit. 1989. Durable goods and product obsolescence. Marketing Sci. 8(1) 35-56.
32. Mahajan, V., E. Muller, F. M. Bass. 1995. Diffusion of new products: Empirical generalizations and managerial uses. Marketing Sci. 14(3, Supplement) G79-G88.
33. Manchanda, P., Y. Xie, N. Youn. 2008. The role of targeted communication and contagion in product adoption. Marketing Sci. 27(6) 961-976.
34. McFadden, D. L., K. E. Train. 1996. Consumers' evaluation of new products: Learning from self and others. J. Political Econom. 104(4) 683-703.
35. Meurer, M., D. Stahl II. 1994. Informative advertising and product match. Internat. J. Indust. Organ. 12(1) 1-19.
36. Muniz, A., Jr., T. C. O'Guinn. 2001. Brand community. J. Consumer Res. 27(4) 412-432.
37. Needleman, S. E. 2009. Firms get a hand with Twitter, Facebook. Wall Street Journal (October 1), http://online.wsj.com/article/SB125435764583454651.htm.
38. Nelson, P. 1970. Information and consumer behavior. J. Political Econom. 78(2) 311-329.
39. Robinson, B., C. Lakhani. 1975. Dynamic price models for new-product planning. Management Sci. 21(10) 1113-1122.
40. Rogers, E. M. 1962. Diffusion of Innovations, 1st ed. Free Press, New York.
41. Shapiro, C. 1983. Optimal pricing of experience goods. Bell J. Econom. 14(2) 497-507.
42. Sobel, J. 1991. Durable goods monopoly with entry of new consumers. Econometrica 59(5) 1455-1485.
43. Sorensen, A. T. 2006. Social learning and health plan choice. RAND J. Econom. 37(4) 929-945.
44. Stokey, N. L. 1981. Rational expectations and durable goods pricing. Bell J. Econom. 12(1) 112-128.
45. Villanueva, J., S. Yoo, D. Hanssens. 2008. The impact of marketing-induced versus word-of-mouth customer acquisition on customer equity growth. J. Marketing Res. 45(1) 48-59.
46. Villas-Boas, J. M. 2004. Consumer learning, brand loyalty, and competition. Marketing Sci. 23(1) 134-145.
47. Villas-Boas, J. M. 2006. Dynamic competition with experience goods. J. Econom. Management Strategy 15(1) 37-66.