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A model of the 'it' products in fashion

机译：时尚“ it”产品的模型

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摘要

Fashion products are bought mostly for their social value and have an apparent randomness of fashion hits. The unpredictability of fashion hits is synonymous with the "it bag" phenomenon. The "it bag" refers to a bag that is deemed a must-have product for social success, though it is often unavailable by the time it is widely recognized as such. In the fashion industry, a product may often become fashionable because a relatively small group of high-type consumers such as fashion magazine editors or celebrities adopts or recommends it. These people distinguish themselves from those belonging to a low type who primarily mimic high-types. Information asymmetry among high-type consumers exists because of better access to fashion information due to individual incentives as opposed to an arbitrary possibility. The research, through a model, tries to capture the interaction between competitive firms and the high-type consumer coordination and shows how the randomness of fashion hits comes as a result of high-type consumers' coordination and their optimal response to the low-type consumers' behavior. The model explores the driving forces and the rules of randomness of fashion hits in order to predict and make recommendations for the optimal competitive firm strategy in such a market.
机译：购买时尚产品主要是因为其具有社会价值，并且具有流行时尚的明显随机性。时尚潮流的不可预测性是“ it bag”现象的代名词。 “它的袋子”是指被认为是社会成功的必备产品的袋子，尽管在人们普遍认可的时候它通常不可用。在时尚行业中，产品可能经常会变得时尚，因为相对少量的高端消费者（例如时尚杂志编辑或名人）会采用或推荐该产品。这些人与那些主要模仿高类型人的低类型人区分开来。高端消费者之间的信息不对称之所以存在，是因为由于个人动机而不是任意可能性，人们更容易获得时尚信息。该研究通过一个模型试图捕捉竞争性公司与高端消费者协调之间的互动，并显示出时尚品的随机性是如何由于高端消费者协调以及他们对低端消费者的最佳反应而产生的消费者的行为。该模型探索时尚命中的驱动力和随机性规则，以便预测和提出针对这种市场中最佳竞争企业策略的建议。

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  • 来源
    《Operations Research》 |2014年第2期|51-52|共2页
  • 作者

    Dmitri Kuksov; Kangkang Wang;

  • 作者单位

    Naveen Jindal School of Management,University of Texas at Dallas, Dallas, TX 75080;

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

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