segunda-feira, janeiro 29, 2018

Aversão à ambiguidade (parte IV)

Parte I, parte II e parte III.
"Proposition 4: Managerial ambiguity aversion is negatively (positively) related to the extent to which firms practice value-based (cost-based) pricing."
Quanto mais os gestores têm medo da ambiguidade menos praticam o value-based pricing!
"Ambiguity is “the subjective experience of missing information relevant to a prediction”. People tend to avoid decisions based on ambiguous information.
Although research has traditionally regarded pricing as simple, it is in practice a difficult process involving vague and uncertain information. As pricing decisions are based on uncertain information concerning risks, managerial ambiguity aversion has practical ramifications for price-setting, aggravated by the need to allocate limited managerial resources (e.g., attention, time, money) to different managerial tasks.
In such circumstances, it is perhaps unsurprising that managers often avoid ambiguity when making decisions and instead rely on simple heuristics.
Managers often lack precise information about customer perceived value, which is difficult to collect and evaluate. In contrast, cost information (e.g., unit cost) is often readily available and may appear precise and unambiguous. Although information about customer perceived value remains the most useful for profitable pricing, it is imprecise, ambiguous, and hard to quantify. For that reason, more certain information is given more weight in decision-making.
while cost-based pricing is inherently ambiguity- averse, value-based pricing requires managers to accept some degree of ambiguity or vague information. Consequently, only managers who can tolerate ambiguity will be able to commit to value-based pricing practices. In other words, managers should remember “that it is better to be approximately right than to be precisely wrong”

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