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Pennies for Your Thoughts: Costly Product Consideration and Purchase Quantity Thresholds

作者:未填写
暨南大学产业大数据应用与经济决策研究实验室学术报告(五)


时间:6月14日(周二)上午9:30-11:30
地点:科学馆506
主讲人:黄宇丰助理教授
 
讲座题目:Pennies for Your Thoughts: Costly Product Consideration and Purchase Quantity Thresholds
 
内容简介:Why are consumers unresponsive to small price discounts? This paper proposes that it iscostly to consider the purchase of a product, even given full information onprice. As a result, a consumer forms consideration sets on products withfavorable prices, which she expects to buy large quantity that justifies the fixed cost of consideration. We show that the cost of consideration can be identified by these purchase quantity thresholds. We then construct alove-of-variety model of demand with endogenous consideration set. Estimating this model using data from the yogurt category, we find that considering each yogurt product costs $1.37 for consumers who recently purchased the product,against a 4 fold for consumers who never purchased it. The per-variety fixedcost discourages allocating expenditure across many products. A new consumerwith love-of-variety tastes would purchase 50% more varieties if she were familiar with all the products. Finally, at our estimates, larger costs of consideration increase price sensitivity of new consumers.
 
 
主讲人简介:
黄宇丰, Assistant Professor of Marketing, at the Simon Business School of the University of Rochester.博士毕业于荷兰Tilburg University,本科毕业于中山大学岭南学院。本科期间做的论文在经济学(季刊)上发表。
 
 
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