Title: Stimulating Consumption at Low Budget – Evidence from a

Large-scale Policy Experiment amid the COVID-19 Pandemic

分享人：沈俏蔚 北京大学光华管理学院市场营销学系教授

时间：2020 年 6 月 29 日（星期一）14:30-16:00

腾讯会议：ID：161 608 439

会议链接：https://meeting.tencent.com/s/rbdQfeexrJmq

Abstract：

In this research, we examine a large-scale government-issued digital coupon program in China in response to the COVID-19 pandemic, using the high-frequency transaction-level data of more than 1 million de-identified consumers. Exploiting a difference-in-differences approach, we estimate the causal effects of the program on consumption and explore the mechanisms driving such effects. Empirical evidence shows that consumers are highly responsive to the digital coupons issued by the government. The increase in consumption during a coupon week does not negatively affect future spending and the effectiveness of coupon does not wear out over waves of issuance. We provide evidence that mental accounting and loss framing are the likely ehavioral factors contributing to the results.

报告人简介：

沈俏蔚，现为光华管理学院市场营销系教授、博士生导师。她于 2008 年获得美国加州大学伯克利分校（UC Berkeley) 市场营销专业博士学位，此前获得北京大学经济学学士、硕士学位。2008 年至 2015 年任教于美国宾夕法尼亚大学沃顿商学院，2015 年秋至今任教于北京大学光华管理学院。

沈俏蔚教授的研究领域包括企业与消费者决策的量化模型，社交与新媒体以及营销策略等。多篇论文发表于 Marketing Science 和 Management Science 等管理学领域国际顶级学术期刊，并获 2014 年度美国运筹学与管理学协会（INFORMS）营销科学 John Little 最佳论文提名奖。目前为国际顶级学术期刊Marketing Science 以及 Journal of Marketing 的编委会成员，担任《营销科学学报》领域主编。2017 年国家自然科学基金优秀青年科学基金获得者。