基于战略顾客行为的质量差异化产品定价策略

采用博弈论方法构建竞争企业两周期动态定价模型,研究基于战略顾客行为的质量差异化产品最优定价策略,并分析基于行为的定价(behavior-based pricing,BBP) 对企业利润的影响. 研究结论表明：1)企业相对生产效率和决策顺序是影响BBP策略选择的关键因素;2)当竞争企业相对生产效率差异较大时,BBP策略保护弱势企业利润并且损害强势企业利润,从而加剧行业竞争;3)拥有信息优势的企业单独采用BBP策略时,不仅自身利润降低,也会损害竞争对手利润,从而导致“损人不利己”的双输局面,这与直觉相悖. 最后,选择实际企业数据对本文的模型和结论进行说明验证.     

寡头市场信息产品与服务的最优定价策略

在信息产品与服务竞争性市场中,信息产品及附加服务的定价策略日渐成为信息产品提供商关心的首要问题.而以往的研究多集中于单一信息产品的定价策略,没有统一考虑产品的后续服务,且假设消费者的网络外部性强度相同.分析了异质消费者和双寡头垄断市场,针对基础信息产品和附加服务的定价策略选择问题,建立了双寡头垄断市场中两个企业的捆绑销售和分别销售策略的博弈模型,使得双寡头企业通过4种局势下的策略选择实现收益最大化的定价策略.同时,将差异化网络外部性强度系数引入Hotelling模型,计算企业的需求函数和收益函数,并采用两阶段Bertrand博弈分析两个企业的定价策略和竞争行为.通过模型求解,得到4种局势下两家企业的最优定价解析解.通过数值模拟分析了潜在消费者的构成比例及市场规模对企业定价、市场占有率和最优收益产生的影响,以及不同成本和市场规模组合下企业的最优定价策略.     

Coordinating pricing and production decisions for multiple products

We consider a dynamic problem of joint pricing and production decisions for a profit-maximizing firm that produces multiple products. We model the problem as a mixed integer nonlinear program, incorporating capacity constraints, setup costs, and dynamic demand. We assume demand functions to be convex, continuous, differentiable, and strictly decreasing in price. We present a solution approach which is more general than previous approaches that require the assumption of a specific demand function. Using real-world data from a manufacturer, we study problem instances for different demand scenarios and capacities and solve for optimal prices and production plans. We present analytical results that provide managerial insights on how the optimal prices change for different production plans and capacities. We extend some of the earlier works that consider single product problems to the case of multiple products and time variant production capacities. We also benchmark performance of proposed algorithm with a commercial solver and show that it outperforms the solver both in terms of solution quality and computational times.     

The experience effect and pricing for agricultural products

It has been found that for a wide range of industrial products the unit prices and costs decrease by a constant percentage when production volume doubles—this is called the experience effect. This unit price behaviour is also observed for certain classes of basic agricultural products. As international market competition increases, price behaviour differences among countries may lead farmers, their organizations and governments to better understand what are the causes of the differences so that they can maintain and improve their competitive position internationally.     

基于网络外部性和质量差异化的产品定价策略

随着互联网技术和电子商务的发展,网络外部性对产品销售的作用愈发重要.基于这一背景,探究网络外部性对质量差异化产品定价策略的影响.将网络外部性分为自身网络外部性和交互网络外部性两种类型,分别考虑两者对差异化产品价格、需求和利润的影响.结论如下:第一,仅存在自身网络外部性时,网络外部性不影响差异化产品的定价,但影响产品的需求和利润;第二,当自身网络外部性和交互网络外部性同时存在时,网络外部性将同时影响产品的价格、需求和利润.     

Buying used products for remanufacturing: negotiating or posted pricing

Product reclamation is a critical process in remanufacturing. It is generally assumed in the literature that customers simply want to get rid of their used products without expecting any compensation for them. Some authors have only recently started looking into firms that offer a posted (fixed) price for them. Following recent reports suggesting that customers are increasingly open to bargaining, we compare using a posted price and bargaining to obtain used products. In our analysis, we consider an original manufacturer acting as a monopolist as well as a manufacturer and an independent remanufacturer acting in a duopoly. We analytically show that bargaining is always beneficial to the monopoly manufacturer. In the duopoly case, we distinguish a Cournot competition and a market with the manufacturer as Stackelberg leader. The results of a numerical study show that both firms will use posted pricing in the Cournot competition, especially if bargaining is not costless. By contrast, the remanufacturer can significantly increase his profit by using negotiations if he is the Stackelberg follower.     

多资产的股票挂钩保本型理财产品定价研究

结构性理财产品定价的核心问题是收益函数的确定,定价技术难点在于资产相关性的处理.应用Cholesky分解方法,先解决资产间的相关性问题,然后针对多资产保本型股票挂钩结构性产品收益函数特点,利用蒙特卡罗方法对其进行定价.最后以深圳商业银行盈丰理财0706号为例,介绍该方法的应用.结果表明,该产品定价偏高,产品实际收益率偏低.     

On the location of new facilities for chain expansion under delivered pricing

We study the problem of locating new facilities for one expanding chain which competes for demand in spatially separated markets where all competing chains use delivered pricing. A new network location model is formulated for profit maximization of the expanding chain assuming that equilibrium prices are set in each market. The cannibalization effect caused by the entrance of the new facilities is integrated in the objective function as a cost to be paid by the expanding chain to the cannibalized facilities. It is shown that the profit of the chain is maximized by locating the new facilities in a set of points which are nodes or iso-marginal delivered cost points (points on the network from which the marginal delivered cost equals the minimum marginal delivered cost from the existing facilities owned by the expanding chain). Then the location problem is reduced to a discrete optimization problem which is formulated as a mixed integer linear program. A sensitivity analysis respect to both the number of new facilities and the cannibalization cost is shown by using an illustrative example with data of the region of Murcia (Spain). Some conclusions are presented.     

异质性时间偏好与资产定价

引入异质性投资者是资产定价理论的重要发展方向之一.将异质性时间偏好纳入Lucas纯交换经济框架,发展出连续时间、存在异质性时间偏好投资者的动态资产定价模型,给出了模型资产价格和收益的解析解,并且分析投资者的最优消费和投资策略,最后数值分析了异质性时间偏好的资产定价含义.     

Complexity properties of complementary prisms

The complementary prism \(G\bar{G}\) of a graph G arises from the disjoint union of the graph G and its complement \(\bar{G}\) by adding the edges of a perfect matching joining pairs of corresponding vertices of G and \(\bar{G}\). Haynes, Henning, Slater, and van der Merwe introduced the complementary prism and as a variation of the well-known prism. We study algorithmic/complexity properties of complementary prisms with respect to cliques, independent sets, k-domination, and especially \(P_3\)-convexity. We establish hardness results and identify some efficiently solvable cases.     

资产价值分解与公司债务定价

本文对香港电视游戏节目《一掷千金》中参与者的风险决策行为进行了研究分析。发现标准的期望效用函数对于解释这些决策行为存在较大的局限性,而考虑了路径依赖的前景理论会表现较好。通过与荷兰、德国、美国节目的同类研究进行比较,本文还发现香港居民的决策行为具有一系列独特的风格。具体特点如:香港居民没有表现出明显的赌场赢利效应;其参考水平的变化对游戏价值即期变动的反应程度较低,但对其整体变化趋势特别敏感;个体之间的行为模式差异更为不明显。本文从文化差异的视角对这些特点进行了解释。     

零售企业平台化转型及其双边定价策略研究

运用双边市场理论方法,研究传统零售企业的平台化转型及其双边定价模式选择,发现：1）在生产成本和消费者估价均匀分布的条件下,赚差价的传统垄断零售商收取进场费并不能增加利润,转型为会员费制双边零售平台反而降低利润.2）随着供应商单位分销成本的增加,传统零售商可先选择转型为佣金制双边零售平台作为过渡;随着单位分销成本的进一步提高,零售企业可以进一步提高佣金率,并对供应商进行适当补贴,但对消费者免收会员费,转型为二部收费制平台.3）会员费制双边零售平台的倾斜性双边定价策略与产品价格及其分销成本有关,当供应商的零售价格适中时,平台应向消费者与供应商收取会员费;而当供应商零售价格较高时,平台应向供应商收取会员费并补贴消费者.此外,本文结合我国 B2C 零售平台的收费模式进行应用分析.     

Divisionalization and transfer pricing: A review

This paper reviews the various transfer-pricing systems that have been commonly suggested for divisionalized companies. The properties of an ideal system are discussed and the advantages and disadvantages of each practical system are examined in relation to these properties. The fiscal restrictions that act on multinational companies are also considered. Finally, the contribution of operational research in establishing transfer pricing systems is discussed and criticized. Some very recent work is briefly looked at in the hope that this will form a basis for a more substantial contribution in the future.     

Domination and total domination in complementary prisms

Let G be a graph and be the complement of G. The complementary prism of G is the graph formed from the disjoint union of G and by adding the edges of a perfect matching between the corresponding vertices of G and . For example, if G is a 5-cycle, then is the Petersen graph. In this paper we consider domination and total domination numbers of complementary prisms. For any graph G, and , where γ(G) and γ _t (G) denote the domination and total domination numbers of G, respectively. Among other results, we characterize the graphs G attaining these lower bounds. Research supported in part by the South African National Research Foundation and the University of KwaZulu-Natal.     

On the upper total domination number of Cartesian products of graphs

In this paper we continue the investigation of total domination in Cartesian products of graphs first studied in (Henning, M.A., Rall, D.F. in Graphs Comb. 21:63–69, 2005). A set S of vertices in a graph G is a total dominating set of G if every vertex in G is adjacent to some vertex in S. The maximum cardinality of a minimal total dominating set of G is the upper total domination number of G, denoted by Γ _t (G). We prove that the product of the upper total domination numbers of any graphs G and H without isolated vertices is at most twice the upper total domination number of their Cartesian product; that is, Γ _t (G)Γ _t (H)≤2Γ _t (G □ H). Research of M.A. Henning supported in part by the South African National Research Foundation and the University of KwaZulu-Natal.     

PC软件产品竞争性升级的定价研究

通过Hotelling模型对PC软件产品竞争性升级进行了研究,重点分析了网络外部性、转换成本、升级产品质量(或功能)的提高对升级定价及其竞争策略的影响.主要成果包括以下几个方面(1)在消费者静态预期的条件下,网络规模大的厂商总是偏好不兼容,网络规模小的厂商偏好全兼容.(2)分析了影响版本升级价格、竞争性价格和全价的相关因素.(3)解释了转换成本和实施竞争性升级的关系.(4)分析了厂商夺取竞争对手厂商客户的条件以及争夺新客户的竞争策略.对厂商的竞争性升级定价具有重要的理论指导意义.     

现金流信息、现金流风险与股票收益定价研究

研究了现金流信息、现金流风险与股票收益定价的关系,建立了包含现金流信息的多变量股票非预期收益定价模型,并采用2002年1月至2011年4月间中国股票市场的有关交易数据、机构会计收益预测数据和财务数据,检验了理论模型和实证模型的预测,发现:1)由证券分析师盈余预测修正估计出的正现金流信息对股票非预期收益、股票实际收益、股票超额收益均具有稳健的解释能力;2)由证券分析师盈余预测估计出的现金流风险反映了股票的系统风险,可以对股票预期收益定价;3)在解释股票超额收益方面,由现金流信息、现金流风险、分析师跟踪人数与宿成建3变量模型构成的多变量模型优越于Fama-French 3因子模型变量与现金流信息、现金流风险构成的多变量模型.     

认知偏差、异质期望与资产定价

借鉴行为金融理论的研究成果,构造了符合一般心理活动的两类投资者,并在这个假设基础上推导出了基于异质期望的股票收益率均衡解析模型.该模型关注认知偏差间的内在联系,认为以预期方式为载体的不同认知偏差的互动作用是影响风险资产定价的深层原因.最后,据此统一解释了股票收益率运动中的若干典型现象.     

技术分析、主体异质性与资产定价

通过构建异质主体经济跨期模型, 从技术分析的角度研究了主体异质性对市场理性预期均衡的影响,进而发现了异质主体经济下的市场价格稳定条件由技术分析者对历史价格的敏感程度、技术分析者所占市场份额以及无风险利率三者共同所决定.研究表明, 若分析策略不能严格地满足所给出的特定条件, 则技术分析会长期影响价格水平及波动性.此外, 价格序列的发散表征了市场泡沫的产生, 而造成价格发散的部分原因是由于理性投资者与技术分析者异质性较高, 技术分析者对历史信息过度敏感.针对此类泡沫,小幅度提升无风险利率并不能起到有效的抑制作用.     

基于活动方法的瓶颈模型与拥挤收费问题研究

Vickrey提出的基于出行的瓶颈模型以出行作为分析单位,没有考虑出行与活动之间的相互关联.本文对Vickrey的瓶颈模型进行了拓展,提出了基于活动的瓶颈模型来研究通勤者早晨上班出发时间决策问题,模型考虑了通勤者对出行负效用与活动效用之间的权衡.在基于活动的瓶颈模型的基础上,分别研究了常数和线性边际活动效用下瓶颈动态拥挤收费和阶梯收费问题,并与传统的瓶颈模型的解进行比较.结果表明,当活动的边际效用为线性函数时,瓶颈处最优动态收费曲线不再呈分段线性关系,而是分段二次曲线;与基于活动的瓶颈模型相比,传统的基于出行的瓶颈模型将高估瓶颈处的排队延误、阶梯收费水平,以及早高峰的开始和结束时间;基于出行的瓶颈模型和常数边际活动效用下的瓶颈模型导致的最优阶梯收费是最优动态收费最大值的一半,并且刚好消除瓶颈处排队延误的一半;与线性边际活动效用下的瓶颈模型相比较,两者低估了阶梯收费能消除的瓶颈排队,从而低估了阶梯收费的效率.