With the rapid introduction of new generations of consumer electronics, an increasing number of consumers buy new electronics before products actually break down. An increasing number of such products are being refurbished, implying they are improved by the original manufacturer (OEM) or by a third party (3P) who then sells the product as-new for a reduced price. The consumer market is segmented in terms of its preferences for new or refurbished products, and this makes decisions for both OEMs and 3Ps regarding engagement in refurbishing, the authorization of refurbishing, and product pricing increasingly complex. In this dissertation, we study the revenue management and strategic decisions of such firms. We conduct behavioral experiments among consumers to characterize consumer behavior. We deploy the resulting behavioral insights in mathematical models that allow us to study between-product cannibalization and interfirm competition. The first research subject considers three behavioral studies to examine the relationship between price and perceived quality for refurbished products in various types of markets: A secondary market for consumers who want to purchase a refurbished product, a market with competition between new and refurbished products, and the case of a market with competition between brands. The assumption that underlies the research is that consumers might use price as an indicator of refurbished products’ quality, and begin to doubt the quality of the products when the price is relatively low. Enlightened by the behavioral studies, the second research subject develops and analyzes a formal model to shed light onto how firms would need to make their strategic choices in a duopoly where firms have different brand strength, and under (often publicly set) collection constraints. The third research subject consider a supply chain consisting of two members, a manufacturer that produces and sells new products and a refurbishing third party that produces and sells refurbished products. We develop and analyze a formal model to examine the conditions under which both the OEM and the 3P may benefit via an authorization strategy. Furthermore, the fourth research subject considers the interaction between refurbishing and product innovation. OEMs usually release new-generation products at an intensive rate. Hence, the OEM could choose to introduce the refurbished products before the introduction of the new model or wait for it. We construct and solve a two-period dynamic programming model constrained by the number of cores available for refurbishing, where the second period decision depend on the previous sales of refurbished product. These works contribute to a richer understanding of the economics, pricing, and strategic behavior of firms offering refurbished products. As refurbishing is becoming more commonplace in more industries, the results can inform managers and public policy decisions makers about the right path to follow.