Competitive Pricing of Innovative Products with Consumers’ Social Learning
Abstract
:1. Introduction
- Considering consumers’ social learning, how will competitive enterprises set product prices?
- How will the demand and profits of competitive enterprises change with consumers’ social learning?
- How will learning intensity and product quality affect enterprises’ profits under consumers’ social learning?
2. Literature Review
3. Model without Consumer Learning
3.1. Basic Assumptions
3.2. Benchmark Model
4. Model with Consumer Learning
4.1. Process of Consumers’ Social Learning
4.2. Decision-Making Process
4.3. Equilibrium Analysis
5. Static Comparative Analysis
5.1. Effect of Quality Gaps
5.2. Effect of Intensity of Consumer Learning
6. Conclusions
Author Contributions
Funding
Acknowledgments
Conflicts of Interest
Appendix A
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Xiao, L.; Zhang, H.; Qin, Y. Competitive Pricing of Innovative Products with Consumers’ Social Learning. Sustainability 2020, 12, 3806. https://doi.org/10.3390/su12093806
Xiao L, Zhang H, Qin Y. Competitive Pricing of Innovative Products with Consumers’ Social Learning. Sustainability. 2020; 12(9):3806. https://doi.org/10.3390/su12093806
Chicago/Turabian StyleXiao, Lu, Hang Zhang, and Yong Qin. 2020. "Competitive Pricing of Innovative Products with Consumers’ Social Learning" Sustainability 12, no. 9: 3806. https://doi.org/10.3390/su12093806