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Traditional choice models assume that consumers have well-defined preferences and are not influenced by additional information. However, consumers do not always behave rationally in making purchase decisions. To capture consumers' irrational behaviors and make a more accurate market demand prediction, this paper reports the development of a behavioral choice model that covers reference dependence,...
Product line design and pricing are crucial activities for a firm's success especially in a competitive market with high product variety. Recent literature has reported various profit-maximization models with product mix and prices as decision variables. Product mix is a discrete variable while price is treated as a continuous variable. Optimizing both mix and price simultaneously can be challenging...
Innovation is an actuating force of industrial clusters. Here social capital on the innovation activities were applied to analyze the electronic information industrial cluster in Suzhou city, China. Using a set of index and two-stage decision-making model, innovation activities of cluster was studied. The results show that structural, relational and cognitive dimensions of social capital have positive...
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