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Flexible and Committed Advertising Contracts in Electronic Retailing

机译：灵活和致力于电子零售业的广告合同

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摘要

We use a differential games framework to study two modes of dynamic advertising competition, namely flexible (or closed loop) and committed (or open loop), between two e-retailers that compete for traffic. In closed-loop competition, the advertising contract allows firms to adjust their advertising levels during the advertising campaign. However, in open-loop competition, the contract requires the firms to commit upfront to an advertising plan (however, not necessarily one that advertises at a fixed rate). We ask the following question: Which contract (flexible or committed) is better for the firms (advertising agent)? We find that the firms advertise less and earn more under flexible contracts. As a result, the advertising agent earns less from the two firms under flexible contracts. Flexible and committed contracts become more interesting to study if operational considerations are included. These considerations arise from information technology (IT) costs incurred to process the traffic that arrives at the e-retailers' websites. Operational considerations reduce the difference in advertising spending between the two contracts. Interestingly, to increase the revenue earned under flexible contracts, the advertising agent should offer such contracts at a price that is discounted relative to committed contracts. The discount exploits the force of competition and induces the firms to spend more on advertising. The optimal discount offered under a flexible contract decreases as the IT cost increases.
机译：我们使用差异游戏框架来研究两种动态广告竞争，即灵活（或闭环）和提交（或开环）的两种模式，在竞争交通的两个电子零售商之间。在闭环竞争中，广告合同允许公司在广告活动期间调整他们的广告级别。然而，在开环竞争中，合同要求公司提交到广告计划（但是，不一定是以固定利率宣传的）。我们提出以下问题：该合同（灵活性或承诺）更适合公司（广告代理人）？我们发现该公司在灵活的合同下少广告并更多赚取更多。因此，广告代理商在灵活合同下的两家公司收入较少。如果包括操作考虑，则灵活且承诺的合同变得更有趣。这些考虑因素来自信息技术（IT），以处理到达电子零售商网站的流量的费用。操作考虑因素减少了两份合同之间广告支出的差异。有趣的是，为了增加灵活合同下获得的收入，广告代理商应以相对于承诺合同的价格提供此类合同。折扣利用竞争力，并诱导公司在广告上花费更多。随着IT成本增加，在灵活合同下提供的最佳折扣会降低。

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