Publications
Selected List of Articles by
Prof. Chiang, Wei-yu Kevin
Channel Strategy
Direct-marketing, indirect profits: A strategic analysis of dual-channel supply-chain design
Abstract: The advent of e-commerce has prompted many manufacturers to redesign their traditional channel structures by engaging in direct sales. The model conceptualizes the impact of customer acceptance of a direct channel on supply-chain design. Direct marketing, which indirectly increases the flow of profits through the retail channel, helps the manufacturer improve overall profitability by reducing the degree of inefficient price double marginalization. While operated by the manufacturer to constrain the retailer's pricing behavior, the direct channel may not always be detrimental to the retailer because it will be accompanied by a wholesale price reduction.
摘要： 電子商務的出現促使許多製造商通過直銷重新設計傳統渠道結構。本研究構建製造商與獨立零售商之間的定價博弈模型。直銷通過間接增加零售渠道的利潤流來幫助製造商提高整體盈利能力，減少低效的價格雙重邊際化。
Management Science, 49(1), 2003, pp. 1-20
Lead Article
Product Availability in Competitive and Cooperative Dual-Channel Distribution with Stock-Out Based Substitution
Abstract: This paper investigates the impact of customers' stock-out based substitution on the product availability and the channel efficiency of a dual-channel supply chain. A supplier distributes a single product through its own direct channel and an independent retailer to customers. The supplier and retailer simultaneously choose base stock levels to satisfy stochastic demand to optimize their respective profits. Customers dynamically substitute between the two channels when faced with stockouts.
摘要： 本文研究客戶缺貨替代行為對雙渠道供應鏈產品可用性和渠道效率的影響。供應商通過自有直銷渠道和獨立零售商向客戶分銷單一產品。供應商和零售商為優化各自利潤而同時選擇基礎庫存水平以滿足隨機需求。客戶在缺貨時在兩個渠道之間動態替代。
European Journal of Operational Research, 200(1), 2010, pp. 111-126 (Single Author)
Managing inventories in a two-echelon dual-channel supply chain
Abstract: We present a two-echelon dual-channel inventory model in which stocks are kept in both a manufacturer warehouse (upper echelon) and a retail store (lower echelon), with products supplied through both a traditional retail store and an internet direct channel. The system receives stochastic demand from two customer groups. When either channel faces a stockout, customers transfer to the other channel with a known probability. We show that the dual-channel strategy outperforms both retail-only and direct-only strategies in most cases.
摘要： 本研究提出一個二層雙渠道庫存模型，其中庫存同時保存在製造商倉庫（上層）和零售店（下層），產品通過傳統零售店和互聯網直銷渠道供應。系統接收來自兩個客戶群體的隨機需求。當任一渠道缺貨時，客戶會以已知概率轉向另一渠道。
European Journal of Operational Research, 162(2), 2005, pp. 325-341
Optimal Supply-Chain Channel Design in B2C Electronic Commerce
Supply Chain Optimization, Springer, 2005, pp. 145-168
An Analytic Hierarchy Process Approach to Assessing B2C Channel Satisfaction and Preference
Abstract: This study applies the Analytic Hierarchy Process (AHP) approach to assessing predictors of B2C channel preference. Using the concept of the multi-attribute attitude model, we view consumers' channel choice as a function of their attitudes toward different channels. Based on empirical surveys of three different product types (books/CDs, electronics, and fashion products), we find that price, product variety, and accessibility are the main predictors of B2C channel preference respectively. The utility value of online purchasing decreases as the level of online quality uncertainty increases.
摘要： 本研究應用分析層級程序（AHP）評估影響消費者渠道態度的因素。基於對三種不同產品類型（書籍/光盤、電子產品和時尚產品）的實證調查，研究發現價格、產品多樣性和可訪問性分別是B2C渠道偏好的主要預測因素。
International Journal of Retail & Distribution Management, 38(2), 2010, pp. 78-96
Pricing Strategy
Supply Chain Dynamics and Channel Efficiency in Durable Product Pricing and Distribution
Abstract: This study extends the single-period vertical price interaction in a manufacturer–retailer dyad to a multiperiod setting. A manufacturer distributes a durable product through an exclusive retailer to an exhaustible population of consumers with heterogeneous reservation prices. In each period, the manufacturer and retailer in turn set wholesale and retail prices, respectively, and customers with valuation above the retail price adopt the product at a constant (hazard) rate. We derive the open-loop, feedback, and myopic equilibria for this dynamic pricing game and compare it to the centralized solution.
摘要： 本研究將製造商-零售商二元體中的單期縱向價格互動擴展至多期設置。製造商通過獨家零售商向具有異質保留價格的可耗盡消費者群體分銷耐用產品。在每個時期，製造商和零售商分別設定批發價和零售價，估值高於零售價的客戶以恆定速率採用該產品。本研究推導出動態定價博弈的開環、反饋和近視均衡，並與集中式解決方案進行比較。
Manufacturing & Service Operations Management, 14(2), 2012, pp. 327-343 (Single Author)
Finalist in INFORMS JFIG paper competition
Retailer or E-tailer? Strategic Pricing and Economic-Lot-Size Decisions in a Competitive Supply Chain with Drop-Shipping
Abstract: Drop-shipping is an arrangement whereby an e-tailer, who does not hold inventories, processes orders and requests a manufacturer to ship products directly to the end customers. We develop Economic Order Quantity (EOQ) games with pricing and lot-sizing decisions to examine the strategic interactions between a manufacturer and its retailer/e-tailer. We identify conditions under which the drop-shipping channel profitably outperforms the traditional one. The economic interests of adopting drop-shipping distribution for the channel members may not always be consistent.
摘要： 直銷是指電子零售商不持有庫存，處理訂單並要求製造商直接向最終客戶發貨的安排。本研究開發經濟訂貨量（EOQ）博弈模型，結合定價和批量決策，以檢查製造商與零售商/電子零售商之間的戰略互動。研究發現直銷渠道在某些條件下優於傳統渠道。
Journal of Operational Research Society, 61(11), 2009, pp. 1645-1653
Durable goods pricing with reference price effects
Abstract: A reference price is a price benchmark shaped by consumers on the basis of their perception of past prices. Behavioral decision research suggests that consumers are likely to be backward-looking in that they make purchase decisions based not only on the current price but also on the reference price. This study develops a dynamic pricing model which incorporates both the reference price effect and the saturation effect into a framework to guide durable goods pricing strategy design. Our results indicate that while it is optimal for a myopic seller to adopt the skimming pricing strategy, either the price skimming strategy or the penetration strategy is optimal for a forward-looking seller.
摘要： 參考價格是消費者基於對過去價格的認知而形成的價格基準。行為決策研究表明消費者傾向於向後看，不僅基於當期價格還基於參考價格做出購買決策。本研究開發動態定價模型，將參考價格效應和飽和效應納入框架，以指導耐用品定價策略設計。
OMEGA-International Journal of Management Science, 91, 2020
Strategic Pricing with Reference Effects in a Competitive Supply Chain
Abstract: The reference-price effect refers to the demand deviation caused by consumers' perceived losses or gains when the current market price of a product differs from a cognitive benchmark (reference price) formed based on past prices. We consider a supply chain consisting of a manufacturer and a retailer in a bilateral monopoly setting. The two channel members independently choose their pricing strategies to optimize their own benefits in the presence of consumers' reference-price effects. We conclude that both centralized and decentralized channels should want consumers to have a higher initial reference price.
摘要： 參考價格效應是指當產品當期市場價格與消費者基於過去價格形成的認知基準（參考價格）不同時，引起的需求偏差。本研究考慮由製造商和零售商組成的供應鏈，在雙邊壟斷設置中，兩個渠道成員獨立選擇定價策略以優化自身收益。
OMEGA-International Journal of Management Science, 44, 2014, pp. 126-135
Dynamic Pricing and Channel Efficiency in the Presence of Cost Learning Effect
Abstract: This paper investigates the impacts of the supply-side cost learning effect on dynamic pricing strategies and the channel efficiency in a decentralized supply chain consisting of a manufacturer and a retailer. The unit production cost incurred by the manufacturer declines as the cumulative output increases. With the manufacturer being the price leader, the interactions between the two channel members are modeled as a Stackelberg differential game. We find that while the cost learning effect is beneficial to both channel members in terms of long-term profitability, such an effect is detrimental to the channel inefficiency caused by price double marginalization.
摘要： 本研究調查供應側成本學習效應對分散供應鏈中動態定價策略和渠道效率的影響。隨著累積產量增加，製造商的單位生產成本下降。以製造商為價格領導者，兩個渠道成員之間的互動建模為Stackelberg微分博弈。研究發現雖然成本學習效應對雙方長期盈利有利，但對價格雙重邊際化造成的渠道低效有害。
International Transactions in Operational Research, 18(5), 2011, pp. 579-604
Promotional Strategy
Optimal promotional mix and pricing when faced with uncertain product value
Abstract: We develop a stylized model that considers a firm selling an innovative product to a market wherein the product value is ex ante unknown to each consumer and the firm. The firm has two promotion strategies: hype advertising campaign (HAC) and referral reward program (RRP). HAC refers to basic publicity aiming at raising product awareness through extensive market reach. RRP is an incentive-based program offering rewards to existing customers for bringing new buyers through consumer-to-consumer (C2C) referrals. We find that both HAC and RRP should not always be adopted simultaneously.
摘要： 本研究開發一個模型，考慮企業向市場銷售創新產品，其中產品價值對消費者和企業都是未知的。企業有兩種推廣策略：炒作廣告活動（HAC）和推薦獎勵計劃（RRP）。研究發現HAC和RRP不應總是同時採用，因為消費者推薦可能加劇HAC支出的浪費。
European Journal of Operational Research, 313, No. 2, 2024, pp. 637-651
Optimal promotional mix and pricing
Encyclopedia in Operations Management, Forthcoming, 2025
Consumer Behavior
Bricks or Clicks? Consumer Attitudes Toward Traditional Stores and Online Stores
Abstract: Determining what consumers value, and how online stores compare to traditional stores on valued attributes is a necessary first step in understanding the relative benefits of e-commerce. In this paper, we measure consumers' valuation of online stores compared to traditional stores by measuring consumers' perceptions of the performance of online stores on 18 attributes. These individual perceptions and preferences are combined in a self-explicated multi-attribute attitude model. The findings show that consumers evaluate online shopping acceptance based on transaction costs including convenience, privacy, security and other factors.
摘要： 本研究通過測量消費者對在線商店相對於傳統商店的績效認知，衡量消費者對在線商店的估值。研究發現消費者根據交易成本（包括便利性、隱私、安全性等因素）的認知來評估在線購物的接受度。
Global Economics and Management Review, 18(1), 2013, pp. 12-21
Predicting and explaining patronage behavior toward web and traditional stores using neural networks: a comparative analysis with logistic regression
Abstract: In this research, we developed neural network models to predict consumers' channel choice behavior between traditional stores and web stores. We compare the predictive power of neural networks with logistic regression, finding that neural network methods demonstrate superior capability in predicting consumer channel choice behavior. The neural network approach can better capture the noncompensatory decision processes in consumer channel selection.
摘要： 本研究使用神經網絡方法預測消費者在傳統商店和網絡商店之間的渠道選擇行為。研究比較神經網絡與邏輯回歸的預測能力，發現神經網絡方法在預測消費者渠道選擇方面表現出優越的能力。
Decision Support Systems, 41(2), 2006, pp. 514-531
Discovering rules for predicting customers' attitude toward Internet retailers
Abstract: This research develops rule discovery methods to predict customers' attitudes toward Internet retailers. Through analyzing consumer behavior data, we identify key factors and rules that influence consumers' attitudes toward online retailers. The rule-based approach provides interpretable insights into consumer decision-making processes in online shopping.
摘要： 本研究開發規則發現方法預測客戶對互聯網零售商的態度。通過分析消費者行為數據，識別影響消費者對在線零售商態度的關鍵因素和規則。
Journal of Electronic Commerce Research, 5(4), 2004, pp. 228-238
Digital Content Distribution
Optimal Digital Content Distribution Strategy in the Presence of Consumer-to-Consumer Channel
Abstract: This study considers the existence of consumer-to-consumer (C2C) channels and develops optimal digital content distribution strategies. We analyze how manufacturers can optimize content distribution through direct sales, retail, and C2C channels to maximize profits and improve channel efficiency. The framework provides insights into the strategic decisions regarding channel selection and pricing in digital content markets.
摘要： 本研究考慮消費者對消費者（C2C）渠道的存在，開發最優數字內容分銷策略。研究分析製造商如何通過直銷、零售和C2C渠道優化內容分銷，以最大化利潤並提高渠道效率。
Journal of Management Information Systems, 25(4), 2009, pp. 245–274
Equal Authorship
Other Research
The value of information sharing in the presence of supply uncertainty and demand volatility
Abstract: This paper provides a conceptual foundation for understanding the impact of supply uncertainty on the value of information sharing when it co-exists with demand volatility. We consider a two echelon supply chain in which a manufacturer distributes a single product through a number of independent retailers. The retailers consistently share their replenishment policy and inventory level to the manufacturer. We find that information sharing is more beneficial for the manufacturer than for the retailers in the presence of supply uncertainty and demand volatility. The value of information sharing for the manufacturer can increase or decrease with production yield variability.
摘要： 本研究為理解供應不確定性對信息共享價值的影響提供概念基礎，當供應不確定性與需求波動共存時。研究考慮兩層供應鏈，製造商通過多個獨立零售商分銷單一產品。零售商一致地與製造商共享其補貨政策和庫存水平。研究發現信息共享對製造商的益處大於零售商。
International Journal of Production Research, 45(6), 2007, pp. 1429-1447
Application of Dual Modality Contrast Agent Combined with Multi-Scale Representation in Ultrasound-Magnetic Resonance Imaging Registration Scheme
Abstract: This research applies dual modality contrast agents combined with multi-scale representation in ultrasound-magnetic resonance imaging registration schemes. The study develops advanced medical imaging techniques by integrating multiple imaging modalities to improve diagnostic accuracy and clinical applications. The proposed framework enhances the registration accuracy between different imaging modalities for better clinical outcomes.
摘要： 本研究應用雙模態造影劑結合多尺度表示在超聲-磁共振成像配準方案中。研究開發先進的醫學影像技術，通過整合多種成像模態改進診斷準確性和臨床應用。
MCB Molecular and Cellular Biomechanics, 17.4, 2020, pp. 165-178