【2018年5月31日】【管理科学与工程系学术讲座】Between Online and Offline Markets: A Structural Estimation of Consumer Demand
发布时间:05-30-18

管理科学与工程系学术讲座

题  目:Between Online and Offline Markets: A Structural Estimation of Consumer Demand

主讲人:张星玥 (管科系校友,University of Washington Tacoma,助理教授)

时  间:2018年5月31日13:30- 15:30

地  点: 同济大厦A楼308教室 

报告内容摘要

While the literature on comparing the online and offline markets from the supply-side

perspective is extensive, fewer researches have focused on the demand side. Using a large-scale point-of-sales dataset on consumer packaged goods, we estimate a structural demand model and conducted counterfactuals of prices change or product stockouts. Our key findings are: 1) the own-price elasticity of demand is higher offline (i.e., -2.04 on average) than online (i.e., -1.69 on average). 2) The cross-price elasticity is also higher offline (i.e., 0.19 on average) than online (i.e., 0.04 on average). 3) When a product is out-of-stock, a larger portion of the loss of the market share is recovered in the major substitute products in the offline markets than in the online markets; that is, 88.13% of the loss of the market share of the focal product goes to the major substitute products offline on average while 70.91% of the loss of the market share of the focal product goes to the major substitute product online on average. Our further analyses show that, when considering substitute products, the impact of price increases and product stockouts is surprising. The retailer may not be worse off because the gains in the revenue from the substitute products can make up more than the losses. While the retailers may not be worse off, through consumer welfare analysis, we find that more in the offline markets because the offline market is more concentrated on the major brands.

Key Words: Online Market; Choice Model; Price Elasticity; Stockout; Empirical Analysis 

报告人简介

Xingyue (Luna) Zhang received her Ph.D. in Business and Economics at Lehigh University. She will join the Milgard School of Business at the University of Washington Tacoma as an assistant professor of Business Analytics this fall. Luna’s research interests include economics of electronic commerce, online consumer behavior, and information systems and operations management interface. She teaches the undergraduate core courses Introduction to Information Systems, Demand and Supply Chain Planning, and Money, Banking, and Financial Markets.

Dr. Zhang received her master Economics from Lehigh University, her master in management from Tongji University and her bachelor in management from Tongji University.