By building a two-stage model to describe the dynamic investment characteristics of consumers'sequential arrival,this paper explores how consumer fairness concerns affect crowdfunding pricing strategies,the creator's profit and consumer welfare.The conclusion shows that consumer fairness concerns inhibit the use of differentiated pricing strategy and reduce the creator's profit,but also may not be beneficial to consumers.Specifically,when the consumer valuation differential is low(high),consumer welfare increases(decreases)as the consumer unfairness aversion increases.Furthermore,this paper proves that the menu pricing mechanism can be used as a complementary strategy to alleviate the negative impact of consumer fairness concerns on discriminatory pricing behavior,and achieve Pareto improvement under certain conditions.Finally,the case of consumer arrival difference are considered to verify the robustness of the main model.
维普
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