讲座主题：Optimal Pricing with Dynamic In-Consumption Social Interactions

主讲嘉宾：沈吉 北京大学光华管理学院副教授

讲座时间：2026年6月18日周四14:00

讲座地点：中央财经大学沙河校区11号楼308会议室

嘉宾简介：沈吉，现任北京大学光华管理学院副教授。他在伦敦政治经济学院获得博士学位。主要研究方向包括：数字经济与平台经济，有摩擦金融市场的资产定价理论，公司金融和金融市场监管。近年来在《经济研究》、《金融研究》、《世界经济》和Review of Financial Studies、Management Science、Marketing Science等国内期刊发表论文多篇。

内容摘要：In many contexts of digital consumption, social interaction becomes a vital component that affects consumers’ overall experience and willingness to pay for digital products or services. In these settings, the value of digital consumption depends not only on the intrinsic quality of the product but also on social influences among consumers, presenting new challenges for firms: reduced direct control over product value and increased uncertainty in real-time user experience. Therefore, it is essential for firms to understand how social interaction reshapes market demand and how to strategically manage this dynamic to improve profitability. To address these questions, we develop a continuous-time model in which a consumer’s willingness to pay for the product is dynamically determined by both their idiosyncratic value and social interactions with other consumers. Our findings show that social interactions rotate demand distribution and create an additional option value of participation. Moreover, upward and downward social influences have an asymmetric impact on the option value of and the firm’s profit. We characterize how the firm adjusts participation threshold and access pricing dependingon how the option value varies with marginal consumer types. We compare equilibrium demand and profit to the benchmark scenario without social interactions.