search query: @author Peitz, M. / total: 9
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| Author: | Nocke, V. Peitz, M. |
| Title: | A theory of clearance sales |
| Journal: | Economic Journal
2007 : JUL, VOL. 117:522, p. 964-990 |
| Index terms: | consumer behaviour consumption contingent valuation intertemporal economics marketing strategy pricing |
| Language: | eng |
| Abstract: | Firms use clearance sales as an intertemporal selling policy where a high price is charged initially and then lower in the sales period. During the high price period the high-valuation consumers do the purchases in order to avoid rationing at the low price, and low-valuation consumers wait for the lower price. Presenting a model of intertemporal monopoly pricing under demand uncertainty, the authors demonstrate how clearance sales may be the optimal intertemporal selling policy. |
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