Let Your Competitor Feast On Leftovers: Creating Shortages Can Be A Strategic Advantage

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Executive Summary

Nearly everyone has gone out to buy a hot new product and found the shelves empty, or arrived at a popular restaurant only to encounter a two-hour wait to get a table. Many might think that the popular restaurant could boost its profits by raising prices. However, recent research by Hyoduk Shin and colleagues shows that businesses may be better off staying the course and not raising prices in spite of more customers than they can serve.

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