The Experts below are selected from a list of 191790 Experts worldwide ranked by ideXlab platform
Jason Zhanshun Wei - One of the best experts on this subject based on the ideXlab platform.
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The survivorship bias, share Price Effect, and small firm Effect in Canadian markets
Review of Financial Economics, 2003Co-Authors: Said Elfakhani, Jason Zhanshun WeiAbstract:Abstract After controlling for survivorship bias, we examine the relation between average returns, firm size, and Price levels for Canadian stocks during the 1975–1994 period. Our findings indicate that there is a significant inverse share Price level Effect in Canadian markets. When we compare the results of the overall sample with the groups of surviving firms and delisted stocks, the latter group shows strong performance for large-size, high-Priced stocks. Evidence that supports an independent size Effect is less clear for Canadian stocks. A small size Effect exists only among the higher share Price denominations, which suggests a confounded size-Price Effect. Although the delisted group returns are statistically different from those of the survivor and the overall groups, which implies some evidence of survivorship bias, the difference between the survivor group and the overall group is weak at best.
Xin Chen - One of the best experts on this subject based on the ideXlab platform.
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Dynamic Pricing with Stochastic Reference Price Effect
Journal of the Operations Research Society of China, 2018Co-Authors: Xin Chen, Yu Han ZhangAbstract:We study a dynamic pricing problem of a firm facing stochastic reference Price Effect. Randomness is incorporated in the formation of reference Prices to capture either consumers’ heterogeneity or exogenous factors that affect consumers’ memory processes. We apply the stochastic optimal control theory to the problem and derive an explicit expression for the optimal pricing strategy. The explicit expression allows us to obtain the distribution of the steady-state reference Price. We compare the expected steady-state reference Price to the steady-state reference Price in a model with deterministic reference Price Effect, and we find that the former one is always higher. Our numerical study shows that the two steady-state reference Prices can have opposite sensitivity to the problem parameters and the relative difference between the two can be very significant.
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Efficient Algorithms for the Dynamic Pricing Problem with Reference Price Effect
Management Science, 2017Co-Authors: Xin ChenAbstract:We analyze a finite-horizon dynamic pricing model in which demand at each period depends on not only the current Price but also past Prices through reference Prices. A unique feature but also a significant challenge in this model is the asymmetry in reference Price Effect, which implies that the underlying optimization problem is nonsmooth and no standard optimization methods can be applied. We identify a few key structural properties of the problem, which enable us to develop strongly polynomial-time algorithms to compute the optimal Prices for several plausible scenarios. We complement our exact algorithms by proposing an approximation heuristic and provide an upper bound on the optimal objective value. Finally, we conduct numerical experiments to study the optimal Price path and demonstrate the value of dynamic pricing when demands are seasonal. We further compare numerically one of the exact algorithms with the heuristic and offer managerial suggestions. This paper was accepted by Yinyu Ye, optimization.
André Beauducel - One of the best experts on this subject based on the ideXlab platform.
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Does it Actually Feel Right? A Replication Attempt of the Rounded Price Effect
Royal Society open science, 2018Co-Authors: Christopher Harms, Hanna A. Genau, Carolin Meschede, André BeauducelAbstract:How does the roundedness of Prices affect product evaluations? The ‘rounded Price Effect’ postulates that depending on the context, rounded or non-rounded Prices increase the purchase likelihood of...
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Does it Actually Feel Right? A Replication Attempt of the Rounded Price Effect
2017Co-Authors: Christopher Harms, Hanna A. Genau, Carolin Meschede, André BeauducelAbstract:How does the roundedness of Prices affect product evaluations? The ”Rounded Price Effect” (Wadhwa & Zhang, 2015) postulates that depending on the context, rounded or nonrounded Prices increase the purchase likelihood of consumers. The study presented here is a replication attempt of these findings and the proposed mediation of the Effect through a sense of ”feeling right” when evaluating the product. p-curve analysis and the R-Index are used to assess the robustness of the originally reported statistics since original data was not available. A pre-registered replication of study 5 from the original article was conducted in a sample of N = 588 participants. For both the original product and one alternative product neither an interaction between Price roundedness and context, nor a mediation through ”a sense of feeling right” was found. Our results suggest that the Effect is either smaller than originally reported or contingent on other, not investigated factors. Further studies might investigate contingencies in larger samples.
Zhimin Huang - One of the best experts on this subject based on the ideXlab platform.
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Supply chain coordination through cooperative advertising with reference Price Effect
Omega, 2013Co-Authors: Juan Zhang, Qinglong Gou, Liang Liang, Zhimin HuangAbstract:Cooperative advertising, which usually occurs in a vertical supply chain, is typically a cost sharing and promotion mechanism for the manufacturer to affect retail performance. Research in the literature, however, rarely considers the important phenomenon that advertising has a positive Effect on the consumer's reference Price. In fact, when a consumer makes a decision to buy a product or not, a reference Price is usually in his mind and plays a determinant role. Taking into account the impact of advertising on the reference Price, this paper proposes a dynamic cooperative advertising model for a manufacturer-retailer supply chain and analyzes how the reference Price Effect would influence the decisions of all the channel members. In our model, both the consumer's goodwill and reference Price for the product are assumed to be influenced by the advertising and are modeled in differential dynamic equations. In addition, the advertising level, the consumer's goodwill and the reference Price are all assumed to have positive Effect on sales. Utilizing differential game theory, this paper formulates the optimal decisions of the manufacturer and the retailer in two different game scenarios: Stackelberg game and cooperative game. Also, this paper proposes a new mechanism to coordinate the supply chain in which both the manufacturer and the retailer share each other's advertising costs.
Yu Han Zhang - One of the best experts on this subject based on the ideXlab platform.
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Dynamic Pricing with Stochastic Reference Price Effect
Journal of the Operations Research Society of China, 2018Co-Authors: Xin Chen, Yu Han ZhangAbstract:We study a dynamic pricing problem of a firm facing stochastic reference Price Effect. Randomness is incorporated in the formation of reference Prices to capture either consumers’ heterogeneity or exogenous factors that affect consumers’ memory processes. We apply the stochastic optimal control theory to the problem and derive an explicit expression for the optimal pricing strategy. The explicit expression allows us to obtain the distribution of the steady-state reference Price. We compare the expected steady-state reference Price to the steady-state reference Price in a model with deterministic reference Price Effect, and we find that the former one is always higher. Our numerical study shows that the two steady-state reference Prices can have opposite sensitivity to the problem parameters and the relative difference between the two can be very significant.