Social Learning, Consumer Search and Firms' Dynamic Strategies: A Theoretical Approach

2023 Fiscal Year Final Research Report

• Project/Area Number: 21K13300
• Research Category: Grant-in-Aid for Early-Career Scientists
• Allocation Type: Multi-year Fund
• Review Section: Basic Section 07040:Economic policy-related
• Research Institution: Kyoto Sangyo University
• Principal Investigator: PAN CONG 京都産業大学, 経済学部, 准教授 (30807425)
• Project Period (FY): 2021-04-01 – 2024-03-31
• Keywords: consumer search / dual-channel / personalized price

Outline of Final Research Achievements

In this project, I analyzed the correlation between consumer search behavior and learning behavior, obtaining the following results: (1) a decrease in search costs can worsen welfare under certain conditions; (2) consumer learning behavior significantly impacts the order of search results; (3) when companies face specific consumer preferences, offering personalized prices does not lead to a prisoner's dilemma situation; (4) there are factors that prompt retailers to enter the market in response to manufacturers' direct sales; (5) under certain conditions, free trade can harm welfare in online transactions; and (6) when manufacturers engaged in e-commerce compete with retailers in the same market, the former's investments can harm producer surplus. These findings have been compiled into six papers, two of which have been accepted for publication in international journals.

Free Research Field

産業組織論、ビジネスエコノミクス、経済政策

Academic Significance and Societal Importance of the Research Achievements

消費者の探索行動と企業の戦略行動に関する従来の分析では、以下の結果が知られていた：（1）消費者の探索費用の上昇は企業間の価格競争を緩和し、厚生を悪化させる；（2）企業が競合相手よりも早く検索結果に表示されれば有利になる；（3）新規参入者は既存企業の利益を悪化させる；（4）企業同士が個別価格制を課すと競争が激化し、双方に不利な状況に陥る；（5）関税の軽減が競争を促進し、消費者余剰を増加させる；（6）戦略投資は企業同士に高い利潤をもたらす。本課題では、これらに反する結果を示し、検索結果表示のアルゴリズム設計、参入規制、及び個人情報取扱いにおける重要な競争政策、貿易政策、経営戦略の示唆を提供した。