Journal of System Simulation
Abstract
Abstract: Social learning is defined as the process that consumers use online reviews to fetch more precise information about product quality.Consequently, consumers would be more likely to purchase the product if the product quality learned was higher than their expectation, reference point effect named.To understand the impact of this effect in social learning on a firm's product decisions, we built a multi-agent model to solve the problem through simulation. According to the results, the reference point effect has a negative influence on the firm. The firm has to higher the product quality and price and therefore loses some profits. However, if the quantity of sales is taken into consideration, the firm can resort to low product quality and price to boost the quantity of sales significantly at a low profit cost.
Recommended Citation
Yan, Jiawen; Huang, Jijie; Zhou, Lie; Chen, Changjin; Wu, Qiang; and Zhao, Jintao
(2022)
"Transmission Line Operation and Inspection Training Simulation Based on Multiple Time Scales and VR,"
Journal of System Simulation: Vol. 34:
Iss.
2, Article 4.
DOI: 10.16182/j.issn1004731x.joss.21-0999
Available at:
https://dc-china-simulation.researchcommons.org/journal/vol34/iss2/4
First Page
212
Revised Date
2021-12-31
DOI Link
https://doi.org/10.16182/j.issn1004731x.joss.21-0999
Last Page
220
CLC
TP391.9
Recommended Citation
Jiawen Yan, Jijie Huang, Lie Zhou, Changjin Chen, Qiang Wu, Jintao Zhao. Transmission Line Operation and Inspection Training Simulation Based on Multiple Time Scales and VR[J]. Journal of System Simulation, 2022, 34(2): 212-220.
DOI
10.16182/j.issn1004731x.joss.21-0999
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