In practice,Apple iTunes can sell digital music through a secondary market approach,while Ama-zon Kindle still utilizes dynamic pricing to sell e-book without resale.Compared to dynamic pricing,under what conditions should the platform use a secondary market to sell digital information goods?To solve this problem,two dynamic game models are established to compare the secondary market and dynamic pricing,and some interesting conclusions are as follows:(ⅰ)If all consumers are strategic,the optimal markdown pri-cing strategies will lead to no consumers waiting to buy,which is equivalence to a fixed price.(ⅱ)The opti-mal price for opening secondary market is not greater than the first period price under dynamic pricing,and secondary markets can increase total consumers'surplus.(ⅲ)Results show that the secondary market outper-forms dynamic pricing as long as the wholesale price is larger than a certain threshold value.At last,a numer-ical experiment is conducted to do sensitivity analysis on the related parameters.
digital information goodsstrategic consumerssecondary marketdynamic pricing
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