Abstract: This paper studies the optimal pricing policy for two competitive firms considering fairness preference of bounded rationality in a duopoly market. The two competitive firms sell high quality products and low quality products, respectively. Different from traditional fully rational decision-making, the two firms consider the classic fairness preference factor in decision-making. The results show that when a single firm considers fairness preference, both of them will take a mark-down policy to attract more consumers. In addition, the extent of the mark down of the firm is greater when the firm is unfavorable unfair than when it is advantageous unfair. When two firms consider fair preferences, both parties will mark down, and the extent of the mark down of the firms is larger than the case when a single firm considers fairness preference. In this case, the extent of the response to the mark down is larger with the high-quality firm than with the low-quality firm, and the total extent of the mark down is related to the perceived parameters and the psychologically expected market ratio.

Key words: fairness, vertical differentiation, pricing, bounded rationality

摘要： 针对双寡头市场中两竞争性的企业考虑有限理性的公平偏好时的最优定价策略问题进行了研究。这两个竞争性的企业分别销售高质量产品和低质量产品。与传统完全理性的企业决策不同的是，两企业在决策时考虑了经典的公平偏好因素。结论表明：当单个企业考虑公平偏好时，两个企业均会采取降价策略来吸引更多的消费者；此外，处于不利不公平时企业的降价幅度大于处于有利不公平时企业的降价幅度。当两个企业考虑公平偏好时，双方都会降价，且它们降价的幅度比单个企业考虑公平偏好情形时的要大。在这种情况下，高质量企业的反应降价程度比低质量企业强烈，且总的降价额度与各感知参数和心理预期市场比例有关。

关键词: 公平, 纵向差异, 定价, 有限理性