Fast computation algorithm for the random consideration set model
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DOI: 10.1016/j.econlet.2019.03.018
Abstract: Abstract This paper proposes a fast and reliable computation algorithm for the random consideration set model. A simple and numerically tractable representation of the model is developed to reduce the computational burden. I show that… read more here.
Keywords: set model; consideration set; random consideration; computation algorithm ... See more keywords
The Charm of Behavior-Based Pricing: When Consumers’ Taste Is Diverse and the Consideration Set Is Limited
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DOI: 10.1177/0022243719834945
Abstract: Technology is making it easier for firms to track consumers’ purchase history and leverage the information when setting prices. This article explores the practice of behavior-based pricing (BBP) in a horizontally differentiated market where consumers’… read more here.
Keywords: diverse consideration; based pricing; behavior based; taste diverse ... See more keywords