We construct two operational systems of a perishable firm, the traditional and quick-response systems, selling to strategic consumers with regrets or without regrets over two periods. When strategic consumers buy the product at the full-price period, they may experience high-price regret....

We compare a patient firm’s markdown (MD), price commitment (PC) and price matching (PM) selling to patient strategic consumers over two periods. Strategic consumers may choose to wait, depending on their level of patience under MD, while they will not choose to wait under PC. Under PM, to...