Pub Date : 2019-08-14DOI: 10.1007/s11129-019-09215-5
Timothy P. Derdenger, Vineet Kumar
{"title":"Estimating dynamic discrete choice models with aggregate data: Properties of the inclusive value approximation","authors":"Timothy P. Derdenger, Vineet Kumar","doi":"10.1007/s11129-019-09215-5","DOIUrl":"https://doi.org/10.1007/s11129-019-09215-5","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"17 1","pages":"359 - 384"},"PeriodicalIF":1.9,"publicationDate":"2019-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-019-09215-5","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48123232","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-08-14DOI: 10.1007/s11129-019-09216-4
Oliver J. Rutz, Garrett P. Sonnier
{"title":"VANISH regularization for generalized linear models","authors":"Oliver J. Rutz, Garrett P. Sonnier","doi":"10.1007/s11129-019-09216-4","DOIUrl":"https://doi.org/10.1007/s11129-019-09216-4","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"17 1","pages":"415 - 437"},"PeriodicalIF":1.9,"publicationDate":"2019-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-019-09216-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45261796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We provide generalizable results on the price and promotion tactics employed in the U.S. retail grocery industry. First, we document a large degree of price dispersion for UPCs and brands across stores, both nationally and at the local market level. Base price differences across stores and price promotions contribute to the overall price variance, and we show how to decompose the price variance into base price and promotion components. Second, we document that a large percentage of the variation in prices and promotion tactics across stores can be explained by retail chain and especially market/chain factors, whereas market factors explain only smaller percentage of the variation. Third, we show that the chain-level price and promotions similarity can be explained by similarity in demand. In particular, a large percentage of the variance in price elasticities and promotion effects can be explained by retail chain and especially market/retail chain factors. Further, price elasticities and promotion effects across stores of the same chain are hard to distinguish from the chain-market-level mean, and cross-price elasticities are typically imprecisely estimated. These findings suggest that retail managers may plausibly consider price discrimination across stores to be infeasible.
{"title":"Prices and promotions in U.S. retail markets","authors":"Günter J. Hitsch, Ali Hortaçsu, Xiliang Lin","doi":"10.2139/ssrn.2971168","DOIUrl":"https://doi.org/10.2139/ssrn.2971168","url":null,"abstract":"We provide generalizable results on the price and promotion tactics employed in the U.S. retail grocery industry. First, we document a large degree of price dispersion for UPCs and brands across stores, both nationally and at the local market level. Base price differences across stores and price promotions contribute to the overall price variance, and we show how to decompose the price variance into base price and promotion components. Second, we document that a large percentage of the variation in prices and promotion tactics across stores can be explained by retail chain and especially market/chain factors, whereas market factors explain only smaller percentage of the variation. Third, we show that the chain-level price and promotions similarity can be explained by similarity in demand. In particular, a large percentage of the variance in price elasticities and promotion effects can be explained by retail chain and especially market/retail chain factors. Further, price elasticities and promotion effects across stores of the same chain are hard to distinguish from the chain-market-level mean, and cross-price elasticities are typically imprecisely estimated. These findings suggest that retail managers may plausibly consider price discrimination across stores to be infeasible.","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"19 1","pages":"289 - 368"},"PeriodicalIF":1.9,"publicationDate":"2019-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2139/ssrn.2971168","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46217935","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-06DOI: 10.1007/s11129-021-09241-2
Rob Donnelly, Francisco J. R. Ruiz, D. Blei, S. Athey
{"title":"Counterfactual inference for consumer choice across many product categories","authors":"Rob Donnelly, Francisco J. R. Ruiz, D. Blei, S. Athey","doi":"10.1007/s11129-021-09241-2","DOIUrl":"https://doi.org/10.1007/s11129-021-09241-2","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"19 1","pages":"369 - 407"},"PeriodicalIF":1.9,"publicationDate":"2019-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47256636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-07DOI: 10.1007/s11129-020-09224-9
Tianshu Sun, Sean J. Taylor
{"title":"Displaying things in common to encourage friendship formation: A large randomized field experiment","authors":"Tianshu Sun, Sean J. Taylor","doi":"10.1007/s11129-020-09224-9","DOIUrl":"https://doi.org/10.1007/s11129-020-09224-9","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"18 1","pages":"237 - 271"},"PeriodicalIF":1.9,"publicationDate":"2019-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-020-09224-9","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42236018","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
With few exceptions, today’s retailers sell products across multiple categories. One strategic consideration of such retailers is product location, which determines how easy or difficult different categories are for customers to access. For example, grocery or department stores determine which products will be located closer to the entrance of the store versus at the back of it, while online retailers decide which products to feature on the homepage, and which will require scrolling or keyword search to get to. In this paper, we study how a retailer should optimally locate products within a store, when the locations chosen affect consumer search costs. We show that the retailer has an incentive to prioritize products with lower utility, contrasting with prior work. The intuition for our result is that the consumer may be willing to search less preferred products only at the lower cost, while the more preferred products will be searched even at higher search costs. This strategy benefits the retailer by increasing the number of products the consumer searches and thus, the ones she may buy. Our finding is robust to several extensions: (i) a retailer determining not only product locations, but also prices, (ii) independent (e.g. categories), as well as substitute products, and (iii) a focal retailer that faces competition. From a managerial perspective, we show that allocating products in the store without taking into account how this affects consumer search costs, might mean consumers overlook products they would otherwise purchase.
{"title":"Retailers’ product location problem with consumer search","authors":"Raluca M. Ursu, Daria Dzyabura","doi":"10.2139/ssrn.3284615","DOIUrl":"https://doi.org/10.2139/ssrn.3284615","url":null,"abstract":"With few exceptions, today’s retailers sell products across multiple categories. One strategic consideration of such retailers is product location, which determines how easy or difficult different categories are for customers to access. For example, grocery or department stores determine which products will be located closer to the entrance of the store versus at the back of it, while online retailers decide which products to feature on the homepage, and which will require scrolling or keyword search to get to. In this paper, we study how a retailer should optimally locate products within a store, when the locations chosen affect consumer search costs. We show that the retailer has an incentive to prioritize products with lower utility, contrasting with prior work. The intuition for our result is that the consumer may be willing to search less preferred products only at the lower cost, while the more preferred products will be searched even at higher search costs. This strategy benefits the retailer by increasing the number of products the consumer searches and thus, the ones she may buy. Our finding is robust to several extensions: (i) a retailer determining not only product locations, but also prices, (ii) independent (e.g. categories), as well as substitute products, and (iii) a focal retailer that faces competition. From a managerial perspective, we show that allocating products in the store without taking into account how this affects consumer search costs, might mean consumers overlook products they would otherwise purchase.","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"18 1","pages":"125 - 154"},"PeriodicalIF":1.9,"publicationDate":"2019-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2139/ssrn.3284615","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45650770","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-12DOI: 10.1007/s11129-019-09212-8
Matthew Selove
{"title":"Dynamic pricing with fairness concerns and a capacity constraint","authors":"Matthew Selove","doi":"10.1007/s11129-019-09212-8","DOIUrl":"https://doi.org/10.1007/s11129-019-09212-8","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"17 1","pages":"385 - 413"},"PeriodicalIF":1.9,"publicationDate":"2019-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-019-09212-8","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42757340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-11-27DOI: 10.1007/s11129-018-9208-2
Sumitro Banerjee, Alex P. Thevaranjan
{"title":"Targeting and salesforce compensation: When sales spill over to unprofitable customers","authors":"Sumitro Banerjee, Alex P. Thevaranjan","doi":"10.1007/s11129-018-9208-2","DOIUrl":"https://doi.org/10.1007/s11129-018-9208-2","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"17 1","pages":"81 - 104"},"PeriodicalIF":1.9,"publicationDate":"2018-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-018-9208-2","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52621707","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-10-04DOI: 10.1007/s11129-018-9205-5
Andrés Elberg, Pedro M. Gardete, Rosario Macera, Carlos Noton
{"title":"Dynamic effects of price promotions: field evidence, consumer search, and supply-side implications","authors":"Andrés Elberg, Pedro M. Gardete, Rosario Macera, Carlos Noton","doi":"10.1007/s11129-018-9205-5","DOIUrl":"https://doi.org/10.1007/s11129-018-9205-5","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"17 1","pages":"1 - 58"},"PeriodicalIF":1.9,"publicationDate":"2018-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-018-9205-5","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47964183","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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