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Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customer driven pricing mechanisms that give customers (some) pricing power. Both have been used in service industries with high fixed costs to price discriminate without setting a reference price. Their participatory and innovative...
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the innovating firm invests in marketing, so that consumers become aware of the newly developed product. Firms first … theoretical model are that both the marketing of a product innovation and a firm's propensity to introduce an innovation decrease … a positive effect on product innovation and marketing effort. These findings are tested empirically using survey data …
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management position. However, if non-contractible managerial decision rights give rise to private benefits and preference …
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We analyze both theoretically and empirically how monetary incentives and information about others’ behavior affect dishonesty. We run a laboratory experiment with 560 participants, each of whom observes a number from one to six with there being a payoff associated with each number. They can...
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