Returns Policy, Information, and Communication

Tatsuhiko Nariu

Japanese Economy, 2008, vol. 35, issue 2, 54-67

Abstract: Manufacturers and retailers will often have information about future demand that is not known to the other. Efficiency requires that each member of the distribution channel has an appropriate incentive either to act on its private information or to reveal it to the other members. If a manufacturer accepts returns of unsold merchandise from retailers then it will use its information efficiently. This may be the economic reason for this otherwise puzzling marketing phenomenon.

Date: 2008
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DOI: 10.2753/JES1097-203X350204

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