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Imperfectly-Rational Agents, Volatility of Reserves and Customer Markets | Science Publications

机译:不完全合理的代理商,储备的波动和客户市场|科学出版物

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> Potential customers in customer markets are typically dichotomised into actual and prospective customers. If the firm holds its price firm, the actual customers hold their reserves/reservation price firm and repeat their purchases. On the other hand, prospective customers? reserves may be volatile due to their non-equilibrium market experience. One may regard a prospective buyer with a volatile reserve as imperfectly rational. On the other hand, one may suppose that an actual customer with a firm reserve is fully rational. We examine this hitherto-neglected asymmetry in customer markets to highlight that a firm can use imperfectly rational and prospective customers-characterised by their volatile reserves-as a European option. As the volatility increases, so does the value of the option of selling the products to the prospective customers. We also establish that volatility of reserves and hence imperfection in rationality of buyers, can have positive impact on output and employment in customer markets.
机译: >客户市场中的潜在客户通常分为实际客户和潜在客户。如果该公司持有其价格公司,则实际客户将持有其储备金/预订价格公司并重复购买。另一方面,潜在客户?由于其非均衡的市场经验,储备可能会波动。有人可能会将储备波动的潜在买家视为不完全合理。另一方面,人们可能会认为拥有一定储备的实际客户是完全理性的。我们研究了迄今为止在客户市场中被忽略的不对称现象,以强调一家公司可以使用其波动性储备为特征的不完全合理和潜在客户作为欧洲选择。随着波动性的增加,向潜在客户出售产品的选择权的价值也随之增加。我们还确定,储备的波动性以及因此购买者的理性不完善会对客户市场的产出和就业产生积极影响。

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