讲座题目: Markdown or Trade-up? Inducing Early Purchases in Presence of Product Rollover
主 讲 人: 肖勇波博士（清华大学经济管理学院教授）
Title: Markdown or Trade-up? Inducing Early Purchases in Presence of Product Rollover
Speaker: Dr. Yongbo Xiao (Professor, School of Economics and Management, Tsinghua University)
Time：13:00—15:00, (Tuesday), October 27, 2020
Venue：321, General Office Building
This paper investigates two demand management policies – markdown and trade-up – that have the potential to induce early purchases from strategic customers in the presence of product rollover. Under the markdown policy, the firm offers a discount for the current product. Under the trade-up policy, the firm sells the current product that can be upgraded to a new-generation product when it is released. We show that the optimal price does not necessarily decrease over time under the markdown policy. Neither does the optimal trade-up price under the trade-up policy. We compare the firm's optimal profits under these two policies and find that neither dominates the other. This motivates us to study a combination of the two options; that is, the firm can offer both the markdown option and the trade-up option simultaneously. Numerical studies suggest that the firm benefits more from the hybrid policy when waiting customers are more likely to renege, the residual value of the current product is medium, the innovation level of the new-generation product is high, and the regular selling price is high. Our results shed light on how a firm can optimally manage the markdown and trade-up policies when selling successive-generation products to strategic customers.
肖勇波博士，清华大学经济管理学院管理科学与工程系长聘正教授。先后在清华大学获得管理信息系统学士学位（2000年）和管理科学与工程博士学位（2006年），并在经济管理学院应用经济系完成博士后研究（2016-2018年）。是教育部长江学者青年学者（2015年）、国家自然科学基金优秀青年基金（2012年）和中国管理学青年奖（2014年）的获得者。主要研究领域包括收益与定价管理、运营与供应链管理、服务管理等。主持了多项国家自然科学基金重点项目、面上项目等课题；学术论文发表于《Operations Research》和《Production and Operations Management》等国际顶级/一流学术期刊。长期讲授《运筹学》、《数据、模型与决策》、《运营管理》等课程。
Yongbo Xiao is a Professor (with tenure) at School of Economics and Management, Tsinghua University, China. He received his Ph.D. and M.A. in Management Science and Engineering in 2006, and B.E. in Management Information Systems in 2000, all from Tsinghua University. He joined Tsinghua SEM as an assistant professor in Aug. 2008 after he completed his postdoctoral research in Department of Economics in Tsinghua SEM. He was awarded the “Science Fund for Excellent Young Scholar” under National Natural Science Foundation of China (NSFC) in 2012 and the “Young Scholar Award of Chinese Management Science” in 2014. He was elected as a Chang Jiang Scholar in 2015.
Dr. Xiao’s research interests include revenue and pricing management, service management, supply chain management, and healthcare management. Dr. Xiao has published over 30 papers in the refereed international and domestic journals in the area of operations research and management science, including Operations Research and Production and Operations Management. He acts as Executive Editor of Journal of Systems Science and Systems Engineering.