G-FORSCHT 2015

PAY WHAT YOU WANT! ´Pay-What-You-Want´ (PWYW) is a recently emerging pri- cing scheme in which a product is up for sale and the buyer, should he decide to buy, chooses the price to pay for it. Hence, PWYW can be seen as a class of participatory pri- cing mechanisms where a buyer has full control over the price setting. PWYW allows the buyer to pay a very low price, even a price of zero. Based on theoretical and empiri- cal findings, it seems that buyers do not exploit the pricing mechanism. A famous example, which illustrates its attractiveness to sellers, is the release of Radiohead‘s album “In Rainbows” in 2007. Fans were able to download the album from the band‘s website for any price they chose, including zero. However, hundreds of thousands of fans chose to pay a positive amount. As a result, the band made more money than of all their other albums combined. In our research on innovative price setting strategies we try to transfer PWYW into the wine market. AUTHOR: Prof. Dr. habil. Jon H. Hanf Institut Betriebswirtschaft und Marktforschung jon.hanf@hs-gm.de NEW APPROACHES FOR OPTIMIZING WINE PRODUCTION PROCESSES In recent years, the software platform Gm.Linux (Geisen- heim-Linux) has been developed at the Center of Wine Science and Beverage Processing Technology, which can be used to analyze and optimize wine production proces- ses at all stages from vineyard to bottle. Gm.Linux provides a comprehensive and up-to-date collection of free scienti- fic open-source software with special relevance to wine production processes. It is available at no charge on the Center‘s Internet pages (ms.hs-geisenheim.de). Based on free open source virtualization software, the system can be used directly after download with no further installation on all common platforms, such as Windows, MacOS etc. A reference card system provides step-by-step instructions for many practically relevant analysis and optimization procedures. Several examples demonstrate the effective- ness of this new approach from different points of view: practitioners, engineers and scientists. AUTHOR: Prof. Dr. Kai Velten AG Modellierung und Systemanalyse kai.velten@hs-gm.de Co-authors: Jonas Müller and Dominik Schmidt ABSTRACTS CURRENT RESEARCH PROJECTS

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