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Pay-what-you-want (PWYW) is a pricing strategy implemented in a variety of settings like supermarkets and museums, in which consumers determine the price they are willing to pay for a product or service based on their perceived utility. The authors propose an analytical model to investigate the impact of PWYW delivery pricing on the online food delivery (OFD) platforms.

Using a game-theoretic model, the authors characterize the equilibrium as a function of the platform's average delivery cost and the consumer's social preferences parameters like fairness and reciprocity. The authors derive the parametric conditions under which PWYW generates higher profits for the platform compared to the traditional pay-as-asked delivery pricing.

For the PWYW strategy to be profitable, the average delivery cost to the platform should be low. Therefore, OFD platform managers should focus on reducing delivery costs. The authors also identify the feasible region in which the platform managers need to maintain the consumer's social preferences.

Under PWYW, the authors recommend that the platform managers impose a minimum delivery fee which consumers can use as a benchmark to minimize zero delivery fee payments and consumers' free-riding tendencies simultaneously. This allows OFD platforms to extract online orders from highly price-conscious consumers.

This is one of the first studies to explore the innovative application of PWYW to a particular segment of delivery pricing in OFD platforms. The authors establish that the overall consumer surplus and social welfare are higher under the PWYW strategy, forming a solid ground for its implementation in OFD platforms.

This study highlights the impact of mental accounts on a user's decision-making regarding payment schemes and aims to determine the pricing strategy for the first-enjoy-after-pay service offered by the two-sided media platforms.

This study establishes a game-theoretic model and utilizes backward induction to derive the equilibrium price by maximizing the monopolist's profit.

The findings indicate that the conditions for a two-sided media platform to offer the first-enjoy-after-pay service depend on the trade-off between pleasure attenuation and pain buffering and the effect of time discounts. Moreover, the authors found that the time discount is a critical factor in determining pricing strategies under various payment schemes offered by the platform.

This work adopts a uniform pricing strategy for users who opt for either immediate or post-payment schemes. Nevertheless, it is important to note that this approach has limitations in terms of offering discriminatory pricing for those who choose both payment schemes.

This analytical work provides valuable insights for two-sided media platforms to optimize their payment scheme strategies and pricing considering the influence of a user's mental account.

In a two-sided media platform, the authors provide applicable conditions for the platform to offer first-enjoy-after-pay service considering the effect of mental accounts. Further, the authors show the optimal pricing strategy under different payment schemes provided by the platform.

This study aims to explore image-based visual price determinants (image features and visual aesthetic perception) and how image features affect Airbnb listing price on a sharing accommodation platform.

The study uses an SOR model and a hedonic price model to examine the connections between the characteristics of image features, visual aesthetic perception and Airbnb listing prices. The model is then examined by an econometric model using data from Insideairbnb.com.

Empirical results revealed that image features have a significant positive effect on visual aesthetic perception, visual aesthetic perception has a significant positive effect on Airbnb listing price and visual aesthetic perception has a significant mediating effect between image features and Airbnb listing price.

This study contributes to the relationship and effect mechanism among image features, visual aesthetic perception and Airbnb listing price and has some implications for both property operators and the sharing accommodation platform.

本研究探讨了基于图像的视觉价格决定因素（图像特征和视觉美学感知）以及图像特征如何影响共享住宿平台Airbnb价格。

本研究采用SOR模型和hedonic价格模型来检验图像特征特征、视觉美感与Airbnb房源价格之间的关系。然后使用Insideairbnb.com上的数据, 通过计量经济学模型对该模型进行检验。

实证结果显示：1）图像特征对视觉美学感知有显著的正向影响; 2）视觉美学感知对Airbnb价格有显著的正向影响; 3）视觉美学感知在图像特征和Airbnb价格之间有显著的中介效应。

本研究有助于探讨图像特征、视觉美学感知和Airbnb价格之间的关系和影响机制, 对房源经营者和共享住宿平台都有一定的借鉴意义。

Este estudio explora los determinantes visuales del precio basados en las imágenes (características de las imágenes y percepción estética visual) y cómo afectan las características de las imágenes al precio de los anuncios de Airbnb en una plataforma de alojamiento compartido.

El estudio emplea un modelo SOR y un modelo de precios hedónicos para examinar las conexiones entre las características de los rasgos de la imagen, la percepción estética visual y los precios de Airbnb. A continuación, se examina el modelo mediante un modelo econométrico utilizando datos de Insideairbnb.com.

Los resultados empíricos revelan que 1) las características de la imagen tienen un efecto positivo significativo sobre la percepción estética visual, 2) la percepción estética visual tiene un efecto positivo significativo sobre el precio de los anuncios de Airbnb, y 3) la percepción estética visual tiene un efecto mediador significativo entre las características de la imagen y el precio de los anuncios de Airbnb.

Este estudio contribuye al mecanismo de relación y efecto entre las características de la imagen, la percepción estética visual y el precio del anuncio de Airbnb, y tiene algunas implicaciones tanto para los operadores inmobiliarios como para la plataforma de alojamiento compartido.

The purpose of this study is to describe in detail a recent eBay fraud and to provide a related framework of teaching tools for courses in business law and ethics. The case describes an eBay transaction involving return fraud. This study highlights the problem of fraudulent purchase tactics by an eBay buyer who exploited the eBay feedback mechanism and administrative procedures in attempt to obtain a price reduction or to receive the item for free as a concession.

The work is a case study providing the details and background information on an original eBay return fraud. The case itself provides the source documentation and some background on the eBay platform and its rules. The Appendix provides a set of teaching instructions and discussion questions with model answers related to the specifics of the case.

The eBay resolution of the matter is provided in the Epilogue section of the Appendix. All negative feedback by the buyer against the seller in an attempt to get the item for free was removed by eBay, and the buyer further relinquished all selling privileges on eBay.

This study is unique because it provides the original eBay listing and screenshots of eBay correspondence and the eBay resolution of the matter. The specific type of return fraud is also unusual, as it was directed by the eBay buyer against the seller which appears to be an evolving problem for online retail.

The symbolic presentation of products through images in online environments allows consumers to use or experience products only through imagination. Existing literature has demonstrated that providing sensory cues is an effective way to promote imaginative use or experience. However, such an approach seems to have been proposed for product that requires the use of body-related information (e.g. sensory information) for evaluation (high body-involving product). There is less literature on how to facilitate consumers’ imaginative use of product that requires relatively less bodily information (low body-involving product). Considering this, this research proposes a factor that influences the imaginative use of both high and low body-involving products, the character cues in the product image.

In this paper, two studies are conducted to verify the matching effect about presence or absence of character cues with product type (high body-involving vs. low body-involving) in facilitating imaginative use and the downstream effect.

The experimental results indicate that high (low) body-involving product display images are suitable for present (absent) character cues, which can promote the mental imagery of use the product, increase perceived image attractiveness and ultimately increase purchase intentions. The research also verified the influence of distance between the product and the character cues on the above effects.

We expand on the importance of character cues in product display images in an e-commerce environment and enrich the research about imaginative use in online environment.

Chewy, Inc. is a direct-to-consumer seller of pet food and supplies. Their approach involves a deep understanding of pet owners’ needs and behaviors to provide personalized product recommendations and exceptional customer service. This case study aims to describe Chewy’s growth strategies and how the company can remain a market leader.

Using the customer value assessment tool, the authors examine Chewy’s value proposition, including service, quality, image and price strategies.

Chewy has built a loyal customer base that values the company’s commitment to their pets’ health and well-being. Future opportunities include focusing on pet wellness products and services, collaborating with veterinary providers in telemedicine and international expansion.

This work is largely conceptual and presents a descriptive case study which reviews Chewy’s marketing strategy based on industry research as well as a customer value assessment via the service-quality-image-price framework.

Corporate leaders must adapt to market change and create business strategies to deliver superior value for customers. This requires innovative products, services and processes. The strategic insights are applicable to retailers, service and technology firms and entrepreneurial companies seeking to scale their businesses.

Chewy’s highly competitive market includes Amazon, e-commerce pet supply companies and big-box pet stores. But it has dominated the online sector and has substantial growth prospects. This paper concludes with recommendations for management and questions for consideration.

The purpose of this paper is to elaborate the significance of safeguards in digital ecosystems and their role in generating trust among participants. This paper argues that the right mix and number of safeguards are crucial for an ecosystem’s growth and success. It offers ecosystem orchestrators concrete guidelines for how to implement and monitor safeguards.

This research is based on both consulting experience and publicly available information on several digital ecosystems.

This research conceptualizes safeguards as precautionary mechanisms that mandate or promote desirable behavior in an effort to engender trust among ecosystem participants. Safeguards can take various forms, including passwords, escrow, user privacy controls, ratings and reviews and policies and contracts. Striking the right balance of safeguards – neither too few nor too many – is crucial for ecosystem orchestrators. This paper identifies the factors that determine the optimal mix of safeguards, including the power asymmetry between sellers and buyers, the sophistication of participants, the nature of transactions, the cost of negative outcomes and the cost-benefit tradeoff.

To the best of the authors’ knowledge, this study is one of the first to illuminate the relationship between safeguards and trust in the context of digital ecosystem. It is also one of the few attempts to provide managerial guidance for ecosystem designers trying to structure their platform for trust.

The purpose of this paper is to investigate the unexplored part of the historical evolution of travel agencies in Spain, from the end of the 20th century to the 21st century. When examining promotion strategies, the study focuses on the change in marketing and public relations strategies based on the incorporation of information and communication technologies and, in particular, the use of the internet.

This study draws on a qualitative analysis of the different strategies used by traditional agencies and online agencies in Spain from the mid-19th century to the present. This analysis shows how traditional communication strategies survived at the beginning of the 21st century, together with other more innovative ones, while some disappeared, being eliminated by the new online travel agencies, which created a particular conception of marketing and communication. This paper is divided into the following parts: the introduction; the beginnings of travel agency promotion in the 20th century; the evolution of promotion in travel agencies since the late 20th century; communication innovation at the beginning of the 21st century; online travel agencies; and conclusions.

This study shows that although online agencies did not manage to position themselves with a large turnover, they generated advantages and sharpened their imagination to create a new, more economical advertising model, eliminating the costs of public relations and advertising campaigns. In addition, they allowed clients to have greater independence when making their reservations, while enabling them to monitor the tastes of potential and real clients and add blogs so that consumers could express their degree of satisfaction with the product or services provided by the agency.

The focus of attention is the travel agency sector in Spain and, more specifically, communication. Studies on travel agencies and their marketing have been very scarce and partial, impeding professionals in the tourism sector from having a broad vision to direct their promotional and public relations actions. The originality of this article lies in its making a comparison between two different visions of tourism marketing and, specifically, of travel agencies, that is, the traditional vision and the innovative one. It thus helps all professionals in the sector to value and improve their marketing and communication strategies.

Luxury consumption has evolved, and two important reasons behind the change include globalization and the COVID-19 crisis. These factors have led to the rise of new luxury consumption, which is different from traditional luxury consumption. This study examines how consumers’ identities shape their intentions to consume traditional luxury and new luxury brands.

The theoretical underpinnings of the schema congruity theory and heuristic systematic framework were applied to understand the role of identities in determining consumers’ regulatory focus, price luxuriousness inference and preference for traditional and new luxury brands.

Findings suggest that the global identity of consumers shapes their promotion focus and price luxuriousness inferences. However, their local identities induce a prevention goal. Consumers with such a goal are unlikely to make price luxuriousness inferences. Further, these inferences lead to the choice of traditional luxury over new luxury brands. The results also establish the moderating effects of consumer flexibility.

The extant literature is inconclusive on the role of globalization in luxury consumption and ignores new luxury brands. The current study shows the impact of identities and regulatory focus on traditional and new luxury consumption. The findings also indicate consumers’ regulatory focus and price luxuriousness inference as the reasons behind the influence. The paper also implies that consumers open to renting, sharing or buying second-hand goods will prefer new luxury over traditional luxury brands.

The reform and opening-up of capital market is valued for promoting sustainable development, while its impact presented as the form of deregulation of short-selling on the green innovation of enterprises in developing countries remains unclear. The purpose of this study is to outline the significance of gradual reform of financial markets in developing countries for low-carbon transformation and provide implications for achieving carbon peaking and carbon neutrality goals.

Based on the green subdivided patent data and financial data of China’s A-share listed companies, this paper takes the implementation of securities margin trading program as a quasi-natural experiment and applies the difference-in-differences (DID) model to examine the impact of deregulation of short-selling constraints on the enterprises’ green transformation.

The findings reveal that the initiating securities margin trading program significantly enhances the green innovation performance of enterprises. These findings are valid after performing a series of robustness tests such as the parallel trend test, the placebo test and the methods to exclude other policy interference. Mechanism analyses demonstrate a two-faceted effect of the securities margin trading program on the green innovation of enterprises, in which short-selling policy increases the pressure on capital market deregulation and meanwhile induces the environmental protection investment. The heterogeneity results demonstrate that the impulsive effect imposed by securities margin trading program is more significant in experimental group samples with characteristics of lower financing constraints, belonging to heavy polluting industries and possessing better environmental supervision capability.

First, previous studies have focused on the impact of financial policies implemented by banking institutions on the green innovation of enterprises, but few literatures have explored the validity of relaxing short-selling restrictions or opening the capital market in the field of enterprise’s green transformation in developing country. From the view of securities market reform, this paper broadens the incentive and supervision effects of the relaxation of short-selling control on enterprise’s green innovation performance after the implementation of securities financing and securities lending policy in China’s capital market. Second, previous studies have explored the impact of command-and-control environmental regulations, as well as market-incentivized environmental regulations such as green finance, low-carbon pilots and environmental tax reform, on the green transition of enterprises. Recently the role of the securities market in the green development of enterprises has received more attention in academia. The pilot of margin financing and securities lending is essentially a market-incentivized regulatory tool, but there is few in-depth research on how it affects the green innovation of enterprises. This paper enriches the research on whether the market incentive financial regulation policy can contribute to the green transformation of enterprises under the Porter hypothesis. Third, some previous studies used the ordinary panel regression model to explore the impact of financial policy on enterprise’s innovation performance. However, due to the potential endogenous problems of the estimated model, it might get biased conclusions. Therefore, based on the method of quasi-natural experiment, this paper selects the margin trading pilot policy as an exogenous shock to solve the endogenous or reverse causality problem in traditional measurement model and applies the DID model to study the relationship between core indicator variables.