Everything in Moderation: Foundations and Applications of the Satiation Model

doi:10.1287/mnsc.2019.3505

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	Everything in Moderation: Foundations and Applications of the Satiation Model
	Baucells, Manel 1; Zhao, Lin 2
	2020-12-01
发表期刊	MANAGEMENT SCIENCE
ISSN	0025-1909
卷号	66 期号:12 页码:20
摘要	Models in which current utility depends solely on current consumption (a.k.a. time-separable preferences) are widely acknowledged to be unrealistic, especially when attempting to describe preferences over consumption rates. Alternatively, one may stipulate that instant utility also depends on a state, for example, some stock of past consumption. Escaping the gravitational pull of time separability, however, is difficult because (1) the behavioral axioms that characterize the state and the instant utility are not known, (2) how to elicit the preference parameters-most notably the initial level of the state and the decay rate-is not known, and (3) managerial applications where state dependent preferences produce interesting insights and solutions are scarce. This paper makes advances on these three fronts by proposing a novel set of axioms that characterize the satiation model, a proof of concept on how to elicit all preference parameters using consumption rates, and a mixed-integer linear formulation to solve the optimal design of experiential services under satiation. Our preferences introduce a de-satiation motive, absent in separable preferences, and we explore how to optimally manage this motive.
关键词	satiation moderation instant utility design of experiential services
DOI	10.1287/mnsc.2019.3505
收录类别	SCI
语种	英语
资助项目	National Natural Science Foundation of China[71871212] ; National Natural Science Foundation of China[71532013]
WOS研究方向	Business & Economics ; Operations Research & Management Science
WOS类目	Management ; Operations Research & Management Science
WOS记录号	WOS:000597955700012
出版者	INFORMS
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/57817
专题	中国科学院数学与系统科学研究院
通讯作者	Baucells, Manel
作者单位	1.Univ Virginia, Darden Sch Business, Charlottesville, VA 22903 USA 2.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Baucells, Manel,Zhao, Lin. Everything in Moderation: Foundations and Applications of the Satiation Model[J]. MANAGEMENT SCIENCE,2020,66(12):20.
APA	Baucells, Manel,&Zhao, Lin.(2020).Everything in Moderation: Foundations and Applications of the Satiation Model.MANAGEMENT SCIENCE,66(12),20.
MLA	Baucells, Manel,et al."Everything in Moderation: Foundations and Applications of the Satiation Model".MANAGEMENT SCIENCE 66.12(2020):20.