Everything in Moderation: Foundations and Applications of the Satiation Model

doi:10.1287/mnsc.2019.3505

	Everything in Moderation: Foundations and Applications of the Satiation Model
	Baucells, Manel 2; Zhao, Lin 1
刊名	MANAGEMENT SCIENCE
	2020-12-01
卷号	66 期号:12 页码:20
关键词	satiation moderation instant utility design of experiential services
ISSN号	0025-1909
DOI	10.1287/mnsc.2019.3505
英文摘要	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.
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
语种	英语
出版者	INFORMS
WOS记录号	WOS:000597955700012
内容类型	期刊论文
源URL	[http://ir.amss.ac.cn/handle/2S8OKBNM/57816]
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.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China 2.Univ Virginia, Darden Sch Business, Charlottesville, VA 22903 USA
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.