{"product_id":"technology-timing-and-pricing-in-qiu-hong-wang-9783639278736","title":"Technology Timing and Pricing in the Presence of an Installed Base","description":"This study addresses a vendor's strategies to tackle its own installed base when selling a newly improved product. In particular, we investigate the optimal combinations of timing, pricing and product line strategies that the vendor can employ for selling its newly improved product in the presence of an installed base. We characterize the market with either a partly- or fully- covered installed base in terms of consumers' relative willingness to pay for the newly improved version and their relative payoffs from delayed purchase across periods. Different from the conventional proposition of constant consumer reservation price, we propose that if consumers already own an existing (old) version of a durable product, their willingness to purchase the newly improved version indeed increases over time! This effect, interweaving with consumer heterogeneity on valuation of quality and on purchase history may enable perfect intertemporal price discrimination.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Qiu-Hong Wang\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 3639278739\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9783639278736\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e VDM Verlag\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 07\/25\/2010\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 100\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.35lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.00h x 6.00w x 0.24d","brand":"Qiu-Hong Wang","offers":[{"title":"Paperback","offer_id":48440366268671,"sku":"9783639278736","price":52.92,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_51122e37-a2b1-4ad8-ae04-a1ed5f1ac5d6.jpg?v=1777181974","url":"https:\/\/www.whiterainbookhouse.com\/products\/technology-timing-and-pricing-in-qiu-hong-wang-9783639278736","provider":"WR Book House","version":"1.0","type":"link"}