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Differentiate or imitate? The role of context-dependent preferences

机译:区分还是模仿?上下文相关偏好的作用

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摘要

While making preferences, consumers compare each option with a reference point that is endogenous to the choice set, especially in comparative valuation of losses than gains. The reference dependence and loss aversion together cause choice reversals across contexts, i.e., context-dependent preferences. Thus, as the preference structure changes from context to context, choice reversals also happen across different situations. The present research work to investigate how firms' behavior changes when they face a group of consumers who have reference dependent preferences. A model has been constructed with two horizontally differentiated firms (firm A and firm B). While firm A plans to upgrade its current product by adding a new feature, Firm B is aware of firm A's plan, and to retain its competitive position, it can respond to this either by imitating firm A or by adding a different new feature equal to firm A's new feature. However, firm B never prefers to imitate due to absence of context-dependent preferences. The paper also investigates how the degree of similarity between the two brands affects the desire to imitate. The model has also been extended to incorporate endogeneity of the choice of a new feature for both firms. The robustness of the model have been tested and the main results have been summarized.
机译:消费者在进行偏好设定时,会将每个选择权与选择集内生的参考点进行比较,特别是在损失与收益的比较评估中。参考依赖性和损失厌恶共同导致跨上下文的选择逆转,即上下文相关的偏好。因此,随着偏好结构在上下文之间的变化,选择逆转也会在不同情况下发生。当前的研究工作是调查企业面对一群具有参考依赖偏好的消费者时,其行为如何变化。已经建立了具有两个水平区分的公司(公司A和公司B)的模型。虽然公司A计划通过添加新功能来升级其当前产品,但是公司B知道公司A的计划并保持其竞争地位,但它可以通过模仿公司A或通过添加等于A公司的新功能。但是,由于缺乏上下文相关的偏好,公司B从不喜欢模仿。本文还研究了两个品牌之间的相似程度如何影响模仿的欲望。该模型也已扩展为合并两家公司对新功能的选择的内生性。测试了模型的鲁棒性,并总结了主要结果。

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  • 来源
    《Operations Research》 |2014年第3期|207-208|共2页
  • 作者单位

    Olin Business School, Washington University in St. Louis, St. Louis, MO 63130;

    School of Management, Sabanci University, 34956 Istanbul, Turkey;

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  • 正文语种 eng
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