讲座:The Bright Side of Cost Transparency: Facilitating Product Innovation

发布者:管理科学与工程系     时间:2019-12-12


时间: 2019年12月16日 15:30-17:00

地点: 商学院大楼214

主讲人: Baojun Jiang (姜宝军)  Ph.D.   Associate Professor,   Washington University in St. Louis

邀请部门:运营与供应链管理研究中心


Abstract :  A firm’s cost for its products is increasingly transparent to consumers as the firm itself or third parties publish such information. Using a dynamic model of firm pricing with forward-looking consumer choice, this paper assesses the effect of cost transparency on firm pricing, consumer surplus, firm profits and new product innovation. Cost transparency stymies the low-cost firm’s ability to intertemporally price discriminate because consumers now correctly anticipate the future price drops and delay purchases, as it is no longer feasible to pool price with the high-cost firms, whose future prices drop less because of the high cost. Thus, cost transparency will benefit the high-cost firms but hurt the low-cost firms. Surprisingly, consumers can also be hurt by cost transparency if the firm has a high cost. However, cost transparency leads to an expected increase in both firm profits and consumer surplus—a win-win for both firms and consumers. This increase in expected firm profits facilitates greater investment by firms in new-product innovation.


Presenter Biography :  Baojun Jiang is an associate professor of marketing at the Olin Business School at Washington University in St. Louis. He received a B.A. in economics and physics from Grinnell College, an M.S. in physics and an M.S. in electrical engineering from Stanford University, an M.B.A. from the University of Texas at Austin, and an M.S. and Ph.D. in information systems from Carnegie Mellon University. His current research interests include the sharing economy, platform-based business models, channels, innovations, competitive strategy, behavioral economics, and marketing-operations interface. His research has been published in top-tier journals such as Marketing Science, Management Science, Journal of Marketing Research, and Production and Operations Management. He was selected as a 2017 MSI Young Scholar by the Marketing Science Institute, and serves on the Editorial Review Boards of Journal of Marketing Research and Marketing Science.


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