行为经济学视角下的收益管理.pdf

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1、Personal BackgroundEducation -Pennsylvania State University,Ph.D.(2011-2015)-University of Massachusetts at Amherst,M.S.(2008 2010)-Kyung-Hee University,B.B.A.(2001-2008)Academic Position -Sejong University:Associate Professor(2019-Present)-Lyfe Institute,France:Visiting Professor(2018-2019)-Univers

2、ity of Nevada,Las Vegas:Assistant Professor(2015-2019)Research Interest -Behavioral Pricing/Revenue ManagementCHOONGBEOM CHOI,Ph.D.Concept of Revenue ManagementRM:A strategic approach to maximize revenue by selling the right product to the right customer at the right time for the right priceWhy Beha

3、vioral PriceBehavioral Price:How customers perceive,remember,process and use price informationThe Origin of Behavioral PriceProspect Theory(1979):People often make systematic,predictable errors in judgmentespecially when faced with potential gains or losses.Example 1:Which do you choose?A_ or B_ A.R

4、eceive$50 B.55%chance of receiving$100;45%chance of earning nothing Daniel Kahneman(1934-2024)The Origin of Behavioral PriceProspect Theory(1979):People often make systematic,predictable errors in judgmentespecially when faced with potential gains or losses.Example 2:Which do you choose?C_ or D_ C.L

5、ose$20 D.20%chance of losing$100;80%chance of losing nothingDaniel Kahneman(1934-2024)The Origin of Behavioral PriceProspect theory states that people are risk adverse(e.g.,conservative)when considering gains;in contrast,more naturally inclined to risk a loss than to pay even the expected value of a

6、voiding it.People are consistent in their decision makingv(-x)=v(x)Economic TheoryEconomic TheoryProspect TheoryProspect TheoryIn the gain domain,people react conservativelyIn the loss domain,they tend to take more risksv(-x)v(x)The Origin of Behavioral PriceProspect Theory Implications Increasingly