Dynamic quality policies with reference quality effects
Bibliographic Data
| ID | 19040282 |
|---|---|
| Authors | Regis Chenavaz (0000-0002-5911-2045, corresponding author) |
| Year | 2016 |
| Volume | 49 |
| Issue | 32 |
| Pages | 3156-3162 |
| Publication date | 2016-11-22 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Applied Economics (JOURNAL) |
| Journal identifiers | ISSN: 0003-6846 • E-ISSN: 1466-4283 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/00036846.2016.1254345 |
| OpenAlex | W2553039563 |
| Language | EN |
| Citations received | 2 |
| References cited | 19 |
Dynamic pricing policies with reference-price demand have been intensely analysed. Less studied are dynamic quality policies with reference-quality demand. This article studies the dynamic quality policy of a firm whose consumers use a reference point in their decision-making, in line with the principles of behavioural economics. More specifically, I consider reference quality formation in an optimal control setting. By solving on the basis of Pontryagin’s maximum principle, I obtain analytical solutions to the optimal quality policy. The managerial implications of quality reference for dynamic quality policy are discussed
Dynamic Pricing · Econometrics · Economics · Microeconomics · Public economics · Consumer Market Behavior and Pricing · Economic theories and models · Mathematics · Supply Chain and Inventory Management
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,25 |
| Citation span | 2018 - 2022 (5) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |