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- W3125206543 abstract "Before purchase, a buyer of an experience good learns about the product's fit using various information sources, including some of which the seller may be unaware of. The buyer, however, can conclusively learn the fit only after purchasing and trying out the product. We show that the seller can use a simple mechanism to best take advantage of the buyer's post-purchase learning to maximize his guaranteed-profit. We show that this mechanism combines a generous refund, which performs well when the buyer is relatively informed, with non-refundable random discounts, which work well when the buyer is relatively uninformed." @default.
- W3125206543 created "2021-02-01" @default.
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- W3125206543 date "2020-05-01" @default.
- W3125206543 modified "2023-09-27" @default.
- W3125206543 title "Robust Pricing with Refunds" @default.
- W3125206543 hasPublicationYear "2020" @default.
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