This paper develops a tow-stage purchase contract for fashion products to manage the buyer's cost. In addition to require a commitment, the purchase contract allows the buyer to adjust the commitment at a later st...This paper develops a tow-stage purchase contract for fashion products to manage the buyer's cost. In addition to require a commitment, the purchase contract allows the buyer to adjust the commitment at a later stage. We model the buyer's problem and obtain explicit formulae to describe the buyer's optimal behavior. We analyze the effect of parameters on the buyer's cost and prove that such contract can decrease the buyer's cost numerically.展开更多
文摘This paper develops a tow-stage purchase contract for fashion products to manage the buyer's cost. In addition to require a commitment, the purchase contract allows the buyer to adjust the commitment at a later stage. We model the buyer's problem and obtain explicit formulae to describe the buyer's optimal behavior. We analyze the effect of parameters on the buyer's cost and prove that such contract can decrease the buyer's cost numerically.
