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題目： Price of Identical Product withUnauthorized Gray Market Sales

主講人：馮娟 副教授 香港城市大學商學院

時間：2016年12月23日（周五）上午9：00開始

地點：bwin必贏唯一官網313會議室

Abstract:

The sale of genuinely branded productsthrough unauthorized channels (also known as gray markets) is a growing problemfor many firms that operate in multiple markets. It is generally believed thatthe existence of such unauthorized sales will cannibalize the profits of brand

owners. In this paper, we develop apricing model for a firm that sells an identical product in two distinctmarkets but faces the threat of potential gray market sales. The firm choosesprices in each market. A consumer chooses whether and where to buy the productfrom one

of the markets including a gray market. Wederive the optimal prices in the two markets and examine how “leakage” ofconsumers from one market to the other will influence the demand and totalprofit. We demonstrate that, under certain market conditions, an increase

in the price gap between the two marketscan help the firm to reach previously untapped market, thus boosting its totalprofit. Several model extensions are presented and the analysis underlines therobustness of the main results. We argue that our theoretical model provides

a mechanism to help explain a seeminglycounter-intuitive empirical finding using authorized sales data from a Fortune100 company.

Bio:

Juan Feng is an associate professor in theDepartment of Information Systems in the College of Business at the CityUniversity of Hong Kong. She also serves as the program co-leader of the MScprogram in Business Information Systems. She holds a B.A. in economics fromRenmin University of China, and a PhD in Business Administrtion fromPennsylvania State University, with a dual title in Operations Research. Beforejoining City U, she worked as assistant professor at University of Florida. Sheserves on the editorial board of Decision Support Systems and FinancialInnovation, and AE for E-Commerce Research and Applications and Journal ofElectronic Commerce Research. She has published in journals such as InformationSystems Research, Management Science, Marketing Science, Production andOperations Management, Journals of Management Information Systems and InformsJournal on Computing, etc.