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Erratum to “Optimal Reverse-Pricing Mechanisms” by Martin Spann, Robert Zeithammer, and Gerald Häubl

Author

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  • Martin Spann

    (Munich School of Management, University of Munich, D-80539, Munich, Germany)

  • Robert Zeithammer

    (Anderson School of Management, University of California, Los Angeles, Los Angeles, California 90095)

  • Gerald Häubl

    (Alberta School of Business, University of Alberta, Edmonton, Alberta T6G 2R6, Canada)

Abstract

In our paper about optimal reverse pricing mechanisms [Spann M, Zeithammer R, Häubl G (2010) Optimal reverse-pricing mechanisms. Marketing Sci. 29(6):1058–1070] (hereafter, ORPM), some of the mathematical derivations implicitly assume that the name-your-own-price seller interprets the outside-market posted price p differently than the buyers. This note shows that all of the qualitative results in ORPM continue to hold under the more natural assumption of common knowledge that p is the upper bound of wholesale cost. Interestingly, the proofs and algebraic expressions are often simpler than those in ORPM.

Suggested Citation

  • Martin Spann & Robert Zeithammer & Gerald Häubl, 2015. "Erratum to “Optimal Reverse-Pricing Mechanisms” by Martin Spann, Robert Zeithammer, and Gerald Häubl," Marketing Science, INFORMS, vol. 34(2), pages 297-299, March.
    • Handle: RePEc:inm:ormksc:v:34:y:2015:i:2:p:297-299
    DOI: 10.1287/mksc.2014.0883
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    1. is not listed on IDEAS
    2. Rachel R. Chen & Esther Gal-Or & Paolo Roma, 2014. "Opaque Distribution Channels for Competing Service Providers: Posted Price vs. Name-Your-Own-Price Mechanisms," Operations Research, INFORMS, vol. 62(4), pages 733-750, August.
    3. Scott Fay & Robert Zeithammer, 2017. "Bidding for Bidders? How the Format for Soliciting Supplier Participation in NYOP Auctions Impacts Channel Profit," Management Science, INFORMS, vol. 63(12), pages 4324-4344, December.
    4. Krämer, Florentin & Schmidt, Klaus M. & Spann, Martin & Stich, Lucas, 2017. "Delegating pricing power to customers: Pay What You Want or Name Your Own Price?," Journal of Economic Behavior & Organization, Elsevier, vol. 136(C), pages 125-140.
    5. Chen, Yahong & Li, Jinlin & Huang, He & Ran, Lun & Hu, Yusheng, 2017. "Encouraging information sharing to boost the name-your-own-price auction," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 479(C), pages 108-117.
    6. Robert Zeithammer, 2015. "Optimal selling strategies when buyers name their own prices," Quantitative Marketing and Economics (QME), Springer, vol. 13(2), pages 135-171, June.
    7. Huang, Ching-I & Chen, Jong-Rong & Lee, Chiu-Yu, 2013. "Buyer behavior under the Best Offer mechanism: A theoretical model and empirical evidence from eBay Motors," Journal of Economic Behavior & Organization, Elsevier, vol. 94(C), pages 11-33.
    8. Robert Zeithammer, 2015. "Optimal selling strategies when buyers name their own prices," Quantitative Marketing and Economics (QME), Springer, vol. 13(2), pages 135-171, June.
    9. Zeithammer, Robert & Stich, Lucas & Spann, Martin & Häubl, Gerald, 2025. "Strange case of Dr. Bidder and Mr. Entrant: Consumer preference inconsistencies in costly price offers," International Journal of Research in Marketing, Elsevier, vol. 42(2), pages 255-274.
    10. Nicole Koschate-Fischer & Katharina Wüllner, 2017. "New developments in behavioral pricing research," Journal of Business Economics, Springer, vol. 87(6), pages 809-875, August.
    11. David Post & Martin Spann, 2012. "Improving Airline Revenues with Variable Opaque Products: “Blind Booking” at Germanwings," Interfaces, INFORMS, vol. 42(4), pages 329-338, August.
    12. Fay, Scott & Lee, Seung Hwan (Shawn), 2015. "The role of customer expectations in name-your-own-price markets," Journal of Business Research, Elsevier, vol. 68(3), pages 675-683.
    13. Martin Spann & Robert Zeithammer & Marco Bertini & Ernan Haruvy & Sandy D. Jap & Oded Koenigsberg & Vincent Mak & Peter Popkowski Leszczyc & Bernd Skiera & Manoj Thomas, 2018. "Beyond Posted Prices: the Past, Present, and Future of Participative Pricing Mechanisms," Customer Needs and Solutions, Springer;Institute for Sustainable Innovation and Growth (iSIG), vol. 5(1), pages 121-136, March.
    14. Spann, Martin & Häubl, Gerald & Skiera, Bernd & Bernhardt, Martin, 2012. "Bid-Elicitation Interfaces and Bidding Behavior in Retail Interactive Pricing," Journal of Retailing, Elsevier, vol. 88(1), pages 131-144.

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