• Asia Marketing Journal
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• 제16권1호
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• pp.35-69
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• 2014

The impact of competition on pricing has been studied in the context of counterfactual merger analyses where expected optimal prices in a hypothetical monopoly are compared with observed prices in an oligopolistic market. Such analyses would typically assume static decision making by consumers and firms and thus have been applied mostly to data obtained from consumer packed goods such as cereal and soft drinks. However such static modeling approach is not suitable when decision makers are forward looking. When it comes to the markets for durable products with indirect network effects, consumer purchase decisions and firm pricing decisions are inherently dynamic as they take into account future states when making purchase and pricing decisions. Researchers need to take into account the dynamic aspects of decision making both in the consumer side and in the supplier side for such markets. Firms in a two-sided market typically subsidize one side of the market to exploit the indirect network effect. Such pricing behaviors would be more prevalent in competitive markets where firms would try to win over the battle for standard. While such qualitative expectation on the relationship between pricing behaviors and competitive structures could be easily formed, little empirical studies have measured the extent to which the distinct pricing structure in two-sided markets depends on the competitive structure of the market. This paper develops an empirical model to measure the impact of competition on optimal pricing of durable products under indirect network effects. In order to measure the impact of exogenously determined competition among firms on pricing, we compare the equilibrium prices in the observed oligopoly market to those in a hypothetical monopoly market. In computing the equilibrium prices, we account for the forward looking behaviors of consumers and supplier. We first estimate a demand function that accounts for consumers' forward-looking behaviors and indirect network effects. And then, for the supply side, the pricing equation is obtained as an outcome of the Markov Perfect Nash Equilibrium in pricing. In doing so, we utilize numerical dynamic programming techniques. We apply our model to a data set obtained from the U.S. video game console market. The video game console market is considered a prototypical case of two-sided markets in which the platform typically subsidizes one side of market to expand the installed base anticipating larger revenues in the other side of market resulting from the expanded installed base. The data consist of monthly observations of price, hardware unit sales and the number of compatible software titles for Sony PlayStation and Nintendo 64 from September 1996 to August 2002. Sony PlayStation was released to the market a year before Nintendo 64 was launched. We compute the expected equilibrium price path for Nintendo 64 and Playstation for both oligopoly and for monopoly. Our analysis reveals that the price level differs significantly between two competition structures. The merged monopoly is expected to set prices higher by 14.8% for Sony PlayStation and 21.8% for Nintendo 64 on average than the independent firms in an oligopoly would do. And such removal of competition would result in a reduction in consumer value by 43.1%. Higher prices are expected for the hypothetical monopoly because the merged firm does not need to engage in the battle for industry standard. This result is attributed to the distinct property of a two-sided market that competing firms tend to set low prices particularly at the initial period to attract consumers at the introductory stage and to reinforce their own networks and eventually finally to dominate the market.

• 한국지리정보학회지
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• 제25권2호
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• pp.100-109
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• 2022

한국의 경제성장과 함께 인구와 차량의 대규모 도시 집중에 따라 심각한 도시교통 문제가 초래되고 있다. 혼잡통행료의 징수는 교통수요를 관리하기 위한 가장 효과적인 정책으로 평가받고 있지만 대부분 혼잡이 발생하는 지점이나 교통축을 중심으로 적용되어 그 효과가 제한적이다. 본 연구는 동적 혼잡통행료 징수 체계를 제안하기 위해 부산광역시 206개 교통 분석 존의 평균 통행속도를 이용하여 시공간 큐브 분석(Space-Time Cube Analysis)과 시공간 패턴 마이닝(Emerging Hot Spot Analysis) 기법으로 면적인 개념의 동적 혼잡구역을 도출하였다. 분석 결과, 비 첨두시간인 0시~7시에는 핫스팟이 형성되지 않고, 7시~24시에는 동적 핫스팟이 형성되는 것으로 나타났다. 특히, 특정 시간대(18시~20시)와 특정 지역(서면, 광복동)에 교통 혼잡이 집중하는 것을 확인할 수 있었다. 따라서, 동적 혼잡통행료의 징수를 위한 시공간의 분석을 통해 도심에서의 교통수요 관리의 효과가 극대화될 것으로 기대한다.

• 한국통신학회논문지
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• 제33권8B호
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• pp.681-688
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• 2008

본 논문에서는 다중클래스 통신망을 위한 새로운 과금 (pricing) 기반의 호수락 제어 (call admission control) 알고리즘 제안한다. 본 알고리즘에서는 통신망에 새롭게 호가 도착하게 되면, 요청 회선의 수와 필요로 하는 최소 시간을 통신망에 알려준다. 통신망은 기대 수익 (expected revenue)을 최대화하는 최적의 과금을 계산하여 호에 제안한다. 이때, 최적 과금은 도착한 호의 정보와 현재 그리고 미래에 추정되는 호 예약시간 동안의 망내 정체(congestion) 정도를 기반으로 동적으로 조정된다. 호가 제안된 과금을 수락하면 호는 연결이 되고 그렇지 않으면 연결이 되지 않는다. 본 논문에서는 제안된 동적 과금 기반 호수락 제어 알고리즘의 성능을 Courcoubetis와 Reiman[1] 그리고 Paschalidis와 Tsitsiklis [2]의 정적 과금 기반 호수락 제어 알고리즘의 성능과 비교한다. 비록 두 알고리즘은 거의 같은 수익 결과를 보이지만, 동적 알고리즘이 정적 알고리즘에 비해 더 높은 호 수락율과 각 호에 낮은 과금을 제안하는 측면에서 더 뛰어난 성능을 나타냄을 보인다. 이는 경쟁 상황에서 정적 가격 알고리즘에 비해 동적 가격 알고리즘이 더 많은 사용자를 끌어들여 수익을 더 낼 수 있음을 의미하며 더 나아가 접속 요금이 과금에 고려된다면, 동적 과금 호수락 제어 알고리즘이 더 많은 수익을 낼 수 있음을 보인다.

• 한국수학교육학회지시리즈B:순수및응용수학
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• 제20권4호
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• pp.287-298
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• 2013

A standard deviation has been a starting point for a mathematical definition of risk. As a remedy for drawbacks such as subadditivity property discouraging the diversification, coherent and convex risk measures are introduced in an axiomatic approach. Choquet expectation and g-expectations, which generalize mathematical expectations, are widely used in hedging and pricing contingent claims in incomplete markets. The each risk measure or expectation give rise to its own pricing rules. In this paper we investigate relationships among dynamic risk measures, Choquet expectation and dynamic g-expectations in the framework of the continuous-time asset pricing.

• 유통과학연구
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• 제20권7호
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• pp.11-22
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• 2022

Purpose: Since the emergence of the Covid-19 pandemic, almost all the hospitality industry has experienced a decrease in the distribution of room occupancy. Therefore, this study aims to examine how to improve the performance of 5-star hotels in Bali by involving market orientation, revenue management orientation, competitive advantage, dynamic capability, and pricing capability. Research design, data and methodology: This study involved 127 managers in 62 five-star hotels in Bali. Analysis of this study using structural equation modelling (SEM) with SmartPLS software. Results: This study reveals that the performance of five-star hotels in Bali is influenced by factors such as market orientation, revenue management orientation, competitive advantage, dynamic capability, and pricing capability. In addition, revenue management orientation, competitive advantage, and dynamic capability have been shown to mediate the effect of market orientation on the performance of five-star hotels in Bali. Finally, pricing capability has been proven to have not been able to increase the revenue and performance of five-star hotels in Bali. Conclusions: Hotel performance is largely determined by several important factors which include market orientation, revenue management orientation, competitive advantage, dynamic capability, and pricing capability. This study provides important implications for hospitality practitioners to improve the distribution of hotel performance.

• 한국전자거래학회:학술대회논문집
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• 한국전자거래학회 2004년도 e-Biz World Conference
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• pp.112-116
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• 2004

· Dynamic Pricing vs. Fixed Pricing Auctions make both buyers and sellers engage in the price discovery process, Auctions of various kinds will replace the fixed pricing model that now pervades much of the web(pmitted)

• 한국IT서비스학회지
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• 제6권2호
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• pp.19-33
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• 2007

The current advance of IT and the e-commerce triggers the wide practice of dynamic pricing in all industries although the price discrimination has been very cautiously applied in the limited areas in the past. The price discrimination which offers different prices for each customer depending on their preference and buying behaviors has recently gained attention as it could provide superior benefits to sellers. The wide adoption of price discrimination, on the other hand, is reported to face buyer resistances and complaints. Our limited understanding on the perception of price fairness, which we think is key concept in the price discrimination on the Internet-enabled transactions, motives us to investigate factors that affect the perception of price fairness. This study focuses on illusion of control and lateral customer relationship to investigate their effects on price fairness in online auction and group purchase context. By conducting laboratory experiments, our study demonstrates that customers' perception on illusion of control in price determination and advantageous lateral customer relationship significantly affect price fairness perception in both online auction and group purchase environment. The findings are expected to provide researchers and managers with useful insights to develop better pricing strategies and design effective dynamic pricing mechanisms.

• 대한산업공학회지
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• 제26권1호
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• pp.66-72
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• 2000

Inventory management of a product not to be produced any more has a great impact on the financial status of a company. Clearance pricing can make bigger sales volume together with great savings of inventory holding cost specially for a durable goods with relatively large inventory carrying cost and accordingly cash inflow can be improved. This paper deals with the inventory management by non-linear clearance pricing with the sales rate which depends on the accumulated sales volume and selling price.

• 한국통신학회논문지
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• 제31권8B호
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• pp.764-768
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• 2006

본 논문에서는 대용량의 대역폭을 사용하는 다양한 멀티미디어 서비스에서 발생할 수 있는 네트워크 혼잡 문제를 효율적으로 제어하며, 동시에 우선순위가 높은 서비스의 QoS를 보장하는 적응적 온라인 가격결정 방법을 제안하였다. 이 방법은 현재 네트워크의 트래픽 상황을 기반으로 하여 적응성과 유연성을 제공하는 실시간 온라인기법을 기반으로 수행되기 때문에 실제 네트워크 운영에 적용하기가 용이하다. 컴퓨터 시뮬레이션을 통하여 본 논문이 제안한 방법이 다양한 네트워크 트래픽 상황에서 우수한 성능을 가지는 것을 확인할 수 있었다.

• 전기학회논문지
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• 제62권3호
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• pp.306-311
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• 2013

The Real-Time-Pricing (RTP) brings greatest values in terms of economic incentives and efficiency among the dynamic pricing schemes. The electric power industry in Korea is mainly operated by publicly owned utilities and strongly regulated by the government; therefore, revenue reconciliation of RTP is inevitably required to prevent revenue deficits. In this paper, a revenue reconciliation of real-time pricing considering imperfect information on customer response is proposed to prevent revenue deficit and distortion of the spot price. A case study is present to verify the applicability of the proposed method.