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The "Name-Your-Own-Price" (NYOP) is a system under which buyers make a suggestion for a product’s price (unlike the traditional way where sellers quote a certain price) and the transaction occurs only if a seller accepts this quoted price. What happens is that the seller waits for a potential buyer's offer and can then either accept or reject that 'named price' that the user had offered. As the Internet is continuously being developed and the online marketplaces are becoming increasingly more popular, consumers have more choices in terms of product pricing. Popularised by the reverse auction pioneer, Priceline.com, such pricing strategy asks consumers to 'name their own price' for various products and services like air tickets, hotels, rental cars, ... etc. The first bid a consumer places and the subsequent bid increments express the consumer's willingness or unwillingness to haggle. "The economic argument is that the number of bids a consumer submits to win a product in a NYOP auction is determined by the bidder’s intention to trade off higher expected savings from haggling against the associated frictional costs" . NYOP retailers do not post a price for their products, and the final price of the transaction is only determined via a "reverse auction process", and these are key features that distinguish hotels and travel intermediaries from NYOP retailers.〔 Originally, Name-your-own-price sales are considered "opaque" by marketers because buyers "don't know the name of the supplier (airline, hotel or car rental company) or the schedule (with air tickets) until after" they make a nonrefundable purchase. Suppliers benefit because they can sell to the most price-conscious buyers/travelers without publicly disclosing those low rates.〔 ==Priceline.com== Founded in 1998,〔(【引用サイトリンク】url=http://www.priceline.com/careers/content/company-history/ )〕 Priceline is an "online travel company that offers its customers hotel room reservations at over 295,000 hotels worldwide through the Booking.com, priceline.com and Agoda brands." 〔(【引用サイトリンク】url=http://topics.nytimes.com/top/news/business/companies/pricelinecom-inc/index.html )〕 Tom White, an analyst at Macquire Capital USA Inc., who rates Priceline an equivalent of a buy said that “Priceline is the best executor in the online travel space,” on International Bookings By 2005, Priceline began to de-emphasize this system, and added published price options on their websites.〔 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Name Your Own Price」の詳細全文を読む スポンサード リンク
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