This paper defines a unique type of product or service offering, termed , and analyzes a novel selling strategy, termed (PS). A probabilistic good is not a concrete product or service but an offer involving a probability of getting any one of a set of multiple distinct items. Under the...

Although advance selling and probabilistic selling differ in both motivation and implementation, we argue that they share a common characteristic--both offer consumers a choice involving buyer uncertainty. We develop a formal model to examine the general economics of purchase options that...

This paper defines a unique type of product or service offering, termed probabilistic goods, and analyzes a novel selling strategy, termed probabilistic selling (PS). A probabilistic good is not a concrete product or service but an offer involving a probability of getting any one of a set of...