Abstract: An experience good is any product whose valuation cannot be easily assessed ex ante by consumers. The short sales period and the valuation uncertainty are two predominant characteristics of experience goods.In the regular period, although many sellers offer money-back guarantees to consumers, some of them may forget to return products even if they feel unsatisfied. In the discount period, consumers may regret their waiting behavior when they find products are sold out. Returns forgetfulness and stockout regret are two common boundedly rational behaviors of consumers in reality. Both of them have significant influence on the seller’s ordering and capacity rationing decisions.

Key words: capacity rationing, strategic consumers, bounded rationality, experience goods;money-back guarantees