作者：Chen, Yuxin; Yang, Sha; Zhao, Ying
作者单位：New York University; Hong Kong University of Science & Technology
摘要：In this paper, we develop a simultaneous model of consumer brand choice and negotiated price in the highly relevant marketing context of automobile transactions. Consumer brand choice is modeled as a multinomial probabilistic outcome, and the individual consumer-level transaction price is modeled to be consistent with the Nash bargaining solution. Our simultaneous model introduces a natural way to account for price endogeneity in a microlevel choice setting when the price paid is individual sp...
作者：Eichner, Thomas
作者单位：University of Bielefeld
摘要：This paper transfers the concept of Gollier and Pratt's (Gollier, C., J. W. Pratt. 1996. Risk vulnerability and the tempering effect of background risk. Econometrica 64 1109-1123). risk vulnerability into mean variance preferences. Risk vulnerability is shown to be equivalent to the slope of the mean variance indifference curve being decreasing in mean and increasing in variance. Next, we introduce the notion of mean variance vulnerability to link the concepts of decreasing absolute disk avers...
