We report results from a laboratory experiment that implements a consumption-based dynamic general equilibrium model of asset pricing. This work-horse model of the macrofinance literature posits that agents buy and sell assets for the purpose of intertemporally smoothing consumption, and that asset prices are determined by individual risk and time preferences as well as the distribution of inco...

Problem definition: Reward points function as a new currency that consumers can spend on products and services. We study how point redemption affects the seller’s day-to-day pricing inventory decisions. Academic/practical relevance: Despite widespread use of redemption, little has been done its implication operational This paper extends revenue management literature to incorporate impact provid...

Although take-it-or-leave-it pricing is the main mode of operation for many retailers, a number of retailers discreetly allow price negotiation when some haggle-prone customers ask for a bargain. At these retailers, the posted price, which itself is subject to dynamic adjustments in response to the pace of sales during the selling season, serves two important roles: (i) it is the take-it-or-lea...