Optimal selling format under demand uncertainty: mail order business and retail store

• Autores: José Manuel Ordóñez de Haro
• Localización: Documentos de trabajo de análisis económico, Nº 9, 2001, ISBN 84-95191-49-0, págs. 1-44
• Idioma: inglés
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• Resumen

  • This paperpoints out that uncertainty about market conditions makes the selling format of the firm an adaptive dynamic process. A firm chooses its initial selling format taking into account not only the corresponding expected profits of the retailing format itself but also the information about the market environment that is gathered by selling its product in this way. Furthermore, the paper shows under which circumstances the firm expands its original selling format