Dynamic pricing strategies for multi‐type knowledge payment products: A system dynamics approach

Jiayuan Guo, Yijie Bian, Ming Li, Xu Chen and Xiangting Fan

Managerial and Decision Economics, 2024, vol. 45, issue 2, 1134-1153

Abstract: With the emergence of knowledge economy, knowledge payment has become an essential means of knowledge circulation. This study employs a system dynamics approach and integrates signal theory and customer value perception to investigate the dynamic pricing strategies for various knowledge payment products from the perspective of knowledge producers. First, this study analyzes the categories of knowledge payment products and proposes a theoretical research framework for designing dynamic pricing strategies for different products categories. Second, this study identifies the key factors that impact the profitability of knowledge payment platforms and construct a system dynamics model of product pricing strategies for knowledge payment platforms; next, three typical knowledge payment products on Zhihu Live are chosen as research objects, and system dynamics equations are constructed to simulate the profitability changes of different types of products in different periods. Finally, the results of simulation and sensitivity analysis are combined to select dynamic pricing strategies for different products types. This study offers an innovative exploration of multi‐stage pricing strategies for different types of knowledge payment products, which fills the gap in existing research and provides more scientific suggestions for knowledge producers and consumers in terms of knowledge transactions.

Date: 2024
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https://doi.org/10.1002/mde.4058

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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:45:y:2024:i:2:p:1134-1153

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