Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customerdriven pricing mechanisms that give customers (some) pricing power. Both have been used in service industries with high fixed capacity costs in order to appeal to additional customers by reducing prices without setting a...

Marketing researchers have traditionally modeled sales promotions by introducing a sales promotion dummy variable (sometimes accompanied by its interaction with prices) in the indirect utility specification. This approach has been useful in reproducing consumers' response to sales promotions but...

A bucket pricing plan charges a periodic (usually monthly) fixed price that allows consumers to use the service up to a set allowance. The determination of optimal plans requires knowledge about each consumer's simultaneous decision about service subscription, plan choice, and consumption, which...

The current study contributes to the largely theoretical field of revenue management with an empirical investigation into the sub-optimality of managerial dynamic pricing policies as evidenced in the Las Vegas hotel market. We demonstrate in this advance selling setting that managers...

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...

Macroeconomic models often generate nominal price rigidity via menu costs. This paper provides empirical evidence that treating menu costs as a structural explanation for sticky prices may be spurious. Using scanner data, I note two empirical facts: (1) price points, embodied in nine-ending...

In the past two decades, pricing research has paid increasing attention to instances where a product's price is divided into a base price and one or more mandatory surcharges, a practice termed partitioned pricing. Recently, partitioned pricing strategies in the marketplace have become more...

This paper studies the effects of misspecified boundaries of competition on optimal retail pricing using store-level supermarket scanner data. We focus on two types of misspecification: (i) misspecification of the demand estimation problem, which can arise from either defining the product market...

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...

This paper examines how information provided by online reviews influences firms’ pricing strategy for repeat purchase products. It is commonly understood that online reviews can reduce consumer uncertainty about product characteristics and, therefore, have the potential to increase product...