The subject of the paper is to study the role of the consumer in fixing prices with reference to electronic commerce, using the behavioural economy approach, since electronic commerce has moved the encounter between market demand and supply from a traditionally two-dimensional approach, where the variables fundamental are price and quantity, to a multidimensional, dematerialized and potentially infinite space. On the one hand, ICT (Information and Communication Technology), in fact, guarantee greater transparency, reduce information asymmetries and increase competition; on the other hand, however, they can also generate an information overload, inducing consumers to cognitive biases and decision making heuristics. The sophisticated software constantly catalogues the behaviour habits of the agents, analyses the underlying cognitive and subjective processes and allows the implementation of dynamic pricing strategies with price segmentation at the individual level; however, consumers have tools, even easily accessible, to combat attempts at discrimination of price. The law of the single price is not verified empirically, even in fully globalized and computerized markets, so the behavioural economy approach provides a better justification for volatility, flexibility and price diversification, since attributed to the emotional component and relies on a value that affects the determination of the correct price in internet transactions.
Economía comportamental, comercio electrónico y formación de los precios
G. Tortorella Esposito;
2020-01-01
Abstract
The subject of the paper is to study the role of the consumer in fixing prices with reference to electronic commerce, using the behavioural economy approach, since electronic commerce has moved the encounter between market demand and supply from a traditionally two-dimensional approach, where the variables fundamental are price and quantity, to a multidimensional, dematerialized and potentially infinite space. On the one hand, ICT (Information and Communication Technology), in fact, guarantee greater transparency, reduce information asymmetries and increase competition; on the other hand, however, they can also generate an information overload, inducing consumers to cognitive biases and decision making heuristics. The sophisticated software constantly catalogues the behaviour habits of the agents, analyses the underlying cognitive and subjective processes and allows the implementation of dynamic pricing strategies with price segmentation at the individual level; however, consumers have tools, even easily accessible, to combat attempts at discrimination of price. The law of the single price is not verified empirically, even in fully globalized and computerized markets, so the behavioural economy approach provides a better justification for volatility, flexibility and price diversification, since attributed to the emotional component and relies on a value that affects the determination of the correct price in internet transactions.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
