Consumers often consult the reviews of their peers before deciding whether to purchase a new experience good; however, their initial quality expectations are typically set by the product's observable attributes. This paper focuses on the implications of social learning for a monopolist firm's...

A substantial literature has examined negotiation problems. Throughout this literature, scholars have assumed that participants approach negotiations with the intent of reaching a deal and that negotiation participants cannot be significantly harmed by the negotiation process. In this paper, we...

Abstract Perishable capacity is often sold before it is used (e.g., tickets sold weeks before a sporting event) which creates the opportunity to include in the pricing mechanism a recourse strategy, i.e., allowing the firm or buyer to change ownership after an initial transaction. For example, a...

Problem definition: Congestion pricing offers an appealing solution to urban parking problems---charging varying rates across time and space as a function of congestion may shift demand and improve allocation of limited resources. It aims to increase the accessibility of highly desired public...

In many markets consumers incur search costs and firms must choose a pricing strategy that determines how their pricing responds to market conditions. A pricing strategy may involve commitments to take actions that are not optimal given the information the firm knowns about demand. Two types of...