New model revolutionizes pricing strategy for global service exports!
The article discusses how to set prices for services when selling them to other countries. The researchers created a model to help firms maximize profits by considering both demand and supply factors. They used a method called continuous time optimization to find the best prices for services in different markets. The study found that pricing strategies vary for selling services abroad compared to selling them domestically. This information can help companies that want to expand internationally understand how to price their services effectively.