Randomized Markdowns and Online Monitoring
Published Online:17 Feb 2017https://doi.org/10.1287/mnsc.2016.2661
References
- (2013) Structural estimation of callers’ delay sensitivity in call centers. Management Sci. 59(12):2727–2746.Link, Google Scholar
- (2011) How much is a reduction of your customers’ wait worth? An empirical study of the fast-food drive-thru industry based on structural estimation methods. Manufacturing Service Oper. Management 13(4):489–507.Link, Google Scholar
- (2008) Optimal pricing of seasonal products in the presence of forward-looking consumers. Manufacturing Service Oper. Management 10(3):339–359.Link, Google Scholar
- (2009) Counteracting strategic consumer behavior in dynamic pricing systems. Netessine S, Tang CS, eds. Consumer-Driven Demand and Operations Management Models (Springer, New York), 323–352.Crossref, Google Scholar
- (1989) Application of a probabilistic decision model to airline seat inventory control. Oper. Res. 37(2):183–197.Link, Google Scholar
- (1990) Optimal price skimming by a monopolist facing rational consumers. Management Sci. 36(5):555–567.Link, Google Scholar
- (2015) Intertemporal price discrimination: Structure and computation of optimal policies. Management Sci. 61(1):92–110.Link, Google Scholar
- (2012) Information transmission and the bullwhip effect: An empirical investigation. Management Sci. 58(5):860–875.Link, Google Scholar
- (2015) Production smoothing and the bullwhip effect. Manufacturing Service Oper. Management 17(2):208–220.Link, Google Scholar
- (1982) Durable-goods monopolists. J. Political Econom. 90(2):314–332.Crossref, Google Scholar
- (2015) Price commitments with strategic customers: Why it can be optimal to discount more frequently…than optimal. Manufacturing Service Oper. Management 17(3):399–410.Link, Google Scholar
- (2009a) The impact of strategic consumer behavior on the value of operational flexibility. Netessine S, Tang CS, eds. Consumer-Driven Demand and Operations Management Models (Springer, New York), 371–395.Crossref, Google Scholar
- (2009b) Purchasing, pricing, and quick response in the presence of strategic consumers. Management Sci. 55(3):497–511.Link, Google Scholar
- (2011) The value of fast fashion: Quick response, enhanced design, and strategic consumer behavior. Management Sci. 57(4):778–795.Link, Google Scholar
- (2017) Intertemporal pricing under minimax regret. Oper. Res. 65(1):104–129.Link, Google Scholar
- (2005) Microeconometrics: Methods and Applications (Cambridge University Press, New York).Crossref, Google Scholar
- (2010) Inventory management of a fast-fashion retail network. Oper. Res. 58(2):257–273.Link, Google Scholar
- (2015) Robust dynamic pricing with strategic customers. Proc. 16th ACM Conf. Econom. Computation (ACM, New York), 777–777.Crossref, Google Scholar
- (2009) Are durable goods consumers forward-looking? Evidence from college textbooks. Quart. J. Econom. 124(4):1853–1884.Crossref, Google Scholar
- (2001) Markov chain Monte Carlo methods: Computation and inference. Heckman J, Leamer E, eds. Handbook of Econometrics, Vol. 5 (North Holland, Amsterdam), 3569–3649.Crossref, Google Scholar
- (1972) Durability and monopoly. J. Law Econom. 15(1):143–149.Crossref, Google Scholar
- (2017) The impact of linear optimization on promotion planning. Oper Res. 65(2):446–468.Link, Google Scholar
- (2016) Contingent preannounced pricing policies with strategic consumers. Oper. Res. 64(1):251–272.Link, Google Scholar
- (2010) Dynamic pricing when consumers are strategic: Analysis of posted and contingent pricing schemes. Eur. J. Oper. Res. 204(3):662–671.Crossref, Google Scholar
- (1977) Maximum likelihood from incomplete data via the EM algorithm. J. Roy. Statist. Soc. Ser. B (Methodological) 39(1):1–38.Crossref, Google Scholar
- (2013) On the power of randomization in algorithmic mechanism design. SIAM J. Comput. 42(6):2287–2304.Crossref, Google Scholar
- (2012) Avoiding the curse of dimensionality in dynamic stochastic games. Quant. Econom. 3(1):53–93.Crossref, Google Scholar
- (2009) Search, obfuscation, and price elasticities on the Internet. Econometrica 77(2):427–452.Crossref, Google Scholar
- (2003) Dynamic pricing in the presence of inventory considerations: Research overview, current practices, and future directions. Management Sci. 49(10):1287–1309.Link, Google Scholar
- (2008) Designing optimal preannounced markdowns in the presence of rational customers with multiunit demands. Manufacturing Service Oper. Management 10(1):126–148.Link, Google Scholar
- (2006) Analyzing the simultaneous use of auctions and posted prices for online selling. Manufacturing Service Oper. Management 8(1):68–91.Link, Google Scholar
- (1994) Optimal dynamic pricing of inventories with stochastic demand over finite horizons. Management Sci. 40(8):999–1020.Link, Google Scholar
- (2015) Price setting in online markets: Does it click? Working Paper 15-1, Federal Reserve Bank of Boston, Boston.Google Scholar
- (1997) Simulation-Based Econometric Methods (Oxford University Press, Oxford, UK).Crossref, Google Scholar
- (1986) Foundations of dynamic monopoly and the Coase conjecture. J. Econom. Theory 39(1):155–190.Crossref, Google Scholar
- (2013) Intertemporal price discrimination in storable goods markets. Amer. Econom. Rev. 103(7):2722–2751.Crossref, Google Scholar
- (2014) Quantifying search and switching costs in the US auto insurance industry. RAND J. Econom. 45(4):847–884.Crossref, Google Scholar
- (2011) Managing strategic buyers. J. Political Econom. 119(3):379–425.Crossref, Google Scholar
- (2004) Search costs, product differentiation, and welfare effects of entry: A case study of S&P 500 index funds. Quart. J. Econom. 119(4):403–456.Crossref, Google Scholar
- (2010) Revenue management with strategic customers: Last-minute selling and opaque selling. Management Sci. 56(3):430–448.Link, Google Scholar
- (2014) Measuring the performance of large-scale combinatorial auctions: A structural estimation approach. Management Sci. 60(5):1180–1201.Link, Google Scholar
- (2005) Supply chain strategies in the apparel industry: The case of Victoria’s Secret. Ph.D. thesis, Massachusetts Institute of Technology, Cambridge.Google Scholar
- (1986) Retail pricing and clearance sales. Amer. Econom. Rev. 76(1):14–32.Google Scholar
- (2014) Are consumers strategic? Structural estimation from the air-travel industry. Management Sci. 60(9):2114–2137.Link, Google Scholar
- (2008) Strategic capacity rationing to induce early purchases. Management Sci. 54(6):1115–1131.Link, Google Scholar
- (1982) Finding the observed information matrix when using the EM algorithm. J. Roy. Statist. Soc. Ser. B (Methodological) 44(2):226–233.Google Scholar
- (2001) Markov perfect equilibrium: I. Observable actions. J. Econom. Theory 100(2):191–219.Crossref, Google Scholar
- (2012) Lululemon’s secret sauce: Scarcity built a $10.4 billion retailer—But will it prevent Lulu from growing? Wall Street Journal (March 22), http://www.wsj.com/articles/SB10001424052702303812904577295882632723066.Google Scholar
- (2008) Capacity choice counters the Coase conjecture. Rev. Econom. Stud. 75(1):317–331.Crossref, Google Scholar
- (1989) A method of simulated moments for estimation of discrete response models without numerical integration. Econometrica 57(5):995–1026.Crossref, Google Scholar
- (1990) Rationalizability, learning, and equilibrium in games with strategic complementarities. Econometrica 58(6):1255–1277.Crossref, Google Scholar
- (2008) Maximum likelihood estimation of search costs. Eur. Econom. Rev. 52(5):820–848.Crossref, Google Scholar
- (2007) Intertemporal price discrimination with forward-looking consumers: Application to the US market for console video-games. Quant. Marketing Econom. 5(3):239–292.Crossref, Google Scholar
- (2009) Consumer-Driven Demand and Operations Management Models (Springer, New York).Google Scholar
- (2008) Structural estimation of the newsvendor model: An application to reserving operating room time. Management Sci. 54(1):41–55.Link, Google Scholar
- (1996) The value of purchase history data in target marketing. Marketing Sci. 15(4):321–340.Link, Google Scholar
- (1994) Structural estimation of Markov decision processes. Engle R, McFadden D, eds. Handbook of Econometrics, Vol. 4 (North Holland, Amsterdam), 3081–3143.Google Scholar
- (2013) The impact of search costs on consumer behavior: A dynamic approach. Quant. Marketing Econom. 11(2):155–203.Crossref, Google Scholar
- (2007) Customer behavior modeling in revenue management and auctions: A review and new research opportunities. Production Oper. Management 16(6):713–728.Crossref, Google Scholar
- (1984) The timing of sales. Rev. Econom. Stud. 51(3):353–368.Crossref, Google Scholar
- (2012) Demand dynamics in the seasonal goods industry: An empirical analysis. Marketing Sci. 31(2):293–316.Link, Google Scholar
- (1961) The economics of information. J. Political Econom. 69(3):213–225.Crossref, Google Scholar
- (1979) Intertemporal price discrimination. Quart. J. Econom. 93(3):355–371.Crossref, Google Scholar
- (2007) Intertemporal pricing with strategic customer behavior. Management Sci. 53(5):726–741.Link, Google Scholar
- (2009) On the value of commitment and availability guarantees when selling to strategic consumers. Management Sci. 55(5):713–726.Link, Google Scholar
- (2012) Inventory pooling with strategic consumers: Operational and behavioral benefits. Working paper, Stanford University, Stanford, CA.Google Scholar
- (2006) The Theory and Practice of Revenue Management, Vol. 68 (Springer, New York).Google Scholar
- (2006) Sale timing in a supply chain: When to sell to the retailer. Manufacturing Service Oper. Management 8(1):23–42.Link, Google Scholar
- U.S. Department of Commerce (2016) Quarterly retail e-commerce sales. Report, May 17, U.S. Census Bureau News, U.S. Department of Commerce, Washington, DC.Google Scholar
- (1980) A model of sales. Amer. Econom. Rev. 70(4):651–659.Google Scholar
- (1999) Endogeneity in brand choice models. Management Sci. 45(10):1324–1338.Link, Google Scholar
- (1982) Maximum likelihood estimation of misspecified models. Econometrica 50(1):1–25.Crossref, Google Scholar

