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Article Dans Une Revue Applied Economics Année : 2017

Dynamic quality policies with reference quality effects

Résumé

Dynamic pricing policies with reference-price demand have been intensely analysed. Less studied are dynamic quality policies with reference-quality demand. This article studies the dynamic quality policy of a firm whose consumers use a reference point in their decision-making, in line with the principles of behavioural economics. More specifically, I consider reference quality formation in an optimal control setting. By solving on the basis of Pontryagin’s maximum principle, I obtain analytical solutions to the optimal quality policy. The managerial implications of quality reference for dynamic quality policy are discussed.
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Dates et versions

hal-01685879 , version 1 (16-01-2018)

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Régis Chenavaz. Dynamic quality policies with reference quality effects. Applied Economics, 2017, 49 (32), pp.3156 - 3162. ⟨10.1080/00036846.2016.1254345⟩. ⟨hal-01685879⟩
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