This paper defines a unique type of products or services offering, termed "Probabilistic Goods," and analyzes a novel selling strategy, termed Probabilistic Selling (PS). A "probabilistic good" is not a concrete product or service but an offer involving a probability of getting any one of a set...

Information goods are characterized by high fixed (first-copy) costs, but very low costs for the production of additional copies. Marginal costs of electronically-delivered information goods have been further reduced by the remarkable recent decline in computing and digital communication costs....

Learning about a customer's preferences is a critical first step in the customization process. Broadly, firms adopt two alternative learning approaches: (1) ask, i.e., solicit preference information directly from the customer (S-Learning) or (2) infer, i.e., deduce preference information based...

Water emission trading (WET) is promising in sustainable development strategy. However, low participation impedes its development. We develop an evolutionary game model of two enterprise populations’ dynamics and stability in the decision-making behavior process. Due to the different perceived...