Fiche du document
- handle: 10670/1.j8dv93
- hal: hal-01685879
- doi: 10.1080/00036846.2016.1254345
Ce document est lié à :
info:eu-repo/semantics/altIdentifier/doi/10.1080/00036846.2016.1254345
Sujets proches
Behavioural economics Behavioral economicsCiter ce document
Régis Chenavaz, « Dynamic quality policies with reference quality effects », HAL-SHS : économie et finance, ID : 10.1080/00036846.2016.1254345
Métriques
Partage / Export
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.