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Pay as you wish (PAYW) pricing offers a radical shift from posted pricing schemes. Modeling consumer behavior under PAYW pricing promises insights into conditions under which PAYW is profitable. Firstly, this paper extends an established model that builds on inequity-averse consumers and models their behavior in PAYW as well as the seller’s profits...
This article points to an inconsistency in the original paper “Pay-as-You-Wish Pricing” by Chen et al. ( 2017 ) and discusses a solution to that problem.
Gambled price promotions, i.e., discounts in which the customers’ savings depend on the outcome of a game, have recently gained increasing attention from research and practice. This type of promotion is often framed as an in-store event, and consumers experience two properties inherent in gambling: entertainment and varied financial payoffs. Depend...