Randomized Markdowns and Online Monitoring

@article{Moon2018RandomizedMA,
  title={Randomized Markdowns and Online Monitoring},
  author={Ken Moon and Kostas Bimpikis and Haim Mendelson},
  journal={Management Science},
  year={2018},
  volume={64},
  pages={1271-1290}
}
Online retail reduces the costs of obtaining information about a product’s price and availability and of flexibly timing a purchase. Consequently, consumers can strategically time their purchases, weighing the costs of monitoring and the risk of inventory depletion against prospectively lower prices. At the same time, firms can observe and exploit their customers’ monitoring behavior. Using a dataset tracking customers of a North American specialty retail brand, we present empirical evidence… CONTINUE READING
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