Analysis of Consumer's Exchange Action Based on Real Options Approach

摘要

The consumer's involvement in the market is dependent on their exchange cost. In this paper,the characteristics of and the reasons for the consumer's exchange-action are described and explained based on the real option theory and method. The model of the consumer's unit exchange cost is established on the foundation of marketing competition and asymmetric information. Then the formula of consumer's unit exchange cost is given. Finally, several exchange practices and strategies of the consumer are analyzed in several extreme conditions,and the findings show that the factual actions are all consistent with the theoretic model.