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    Clipping Coupons: Redemption of Offers with Forward-Looking Consumers

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    Joseph_2019.pdf (117.5Kb)
    Issue Date
    2019-07-07
    Author
    Joseph, Kissan
    Loginova, Oksana
    Publisher
    Economics Bulletin
    Type
    Article
    Article Version
    Scholarly/refereed, publisher version
    Published Version
    http://www.accessecon.com/Pubs/EB/2019/Volume39/EB-19-V39-I3-P160.pdf
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    Abstract
    Consumer redemption behavior pertaining to coupons, gift certificates, product sampling, rebates, and the like, has been the focus of much scholarly inquiry and the extant literature has documented two noteworthy empirical regularities - a bump in redemptions close to offer expiry and greater redemption with shorter redemption windows. In the extant work, these phenomena have been explained by invoking myopic consumers. Against this backdrop, we ask a simple question: can these phenomena survive if we assume rational, forward-looking consumers? Accordingly, we develop a model consisting exclusively of forward-looking consumers and incorporate two constructs highlighted in the literature - forgetting and stochastic redemption costs. We derive consumers' period-by-period redemption rule and subsequently illustrate the emergence of the two aforementioned empirical regularities.
    URI
    http://hdl.handle.net/1808/31059
    Collections
    • School of Business Scholarly Works [212]
    Citation
    Kissan Joseph and Oksana Loginova, (2019) ''Clipping Coupons: Redemption of Offers with Forward-Looking Consumers'', Economics Bulletin, Volume 39, Issue 3, pages 1694-1700

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    Contact KU ScholarWorks
    785-864-8983
    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    Image Credits
     

     

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