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Competitive Pricing with Dynamic Asymmetric Price Effects

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dc.contributor.authorAnderson, Chris K.
dc.contributor.authorRasmussen, Henning
dc.contributor.authorMacDonald, Leo
dc.date.accessioned2020-09-12T21:15:51Z
dc.date.available2020-09-12T21:15:51Z
dc.date.issued2005-09-01
dc.description.abstractWe model the temporal pricing strategies for two firms with asymmetric costs and differing market power (i.e. big-box retailer versus smaller local merchant). A firm’s demand is a function of its price, a reference price and its competitor’s price. Price effects may be asymmetric, i.e. consumers respond differently if they perceive a good to be over-priced versus underpriced. We derive analytical results for optimal prices. We show through a series of numerical examples under what settings firms choose various pricing strategies as well as profit implications for firms with differing costs.
dc.description.legacydownloadsAnderson23_Competitive_pricing_with_dynamic_asymmetric_price_effects.pdf: 1198 downloads, before Aug. 1, 2020.
dc.identifier.other6118152
dc.identifier.urihttps://hdl.handle.net/1813/72536
dc.language.isoen_US
dc.relation.doihttps://doi.org/10.1111/j.1475-3995.2005.00522.x
dc.rightsRequired Publisher Statement: © Wiley. Final version published as: Anderson, C. K., Rasmussen, H., & MacDonald, L. (2005). Competitive pricing with dynamic asymmetric price effects. International Transactions in Operational Research, 12(5), 509-525.
dc.subjectpricing
dc.subjectretailing
dc.titleCompetitive Pricing with Dynamic Asymmetric Price Effects
dc.typearticle
local.authorAffiliationAnderson, Chris K.: cka9@cornell.edu Cornell University School of Hotel Administration
local.authorAffiliationRasmussen, Henning: University of Western Ontario
local.authorAffiliationMacDonald, Leo: Korean Advanced Institute of Science and Technology

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