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An Empirical Analysis Of Competitive Nonlinear Pricing
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Book Synopsis An Empirical Analysis of Competitive Nonlinear Pricing by : Gaurab Aryal
Download or read book An Empirical Analysis of Competitive Nonlinear Pricing written by Gaurab Aryal and published by . This book was released on 2019 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate a model of competitive nonlinear pricing with multidimensional preference heterogeneity using individual level data on advertisements bought by local businesses (e.g., doctors, electricians) from two Yellow Page Directories in one U.S. city-market. Variation in individual choices and payments allow us to identify the joint density of preferences, marginal costs of publishing and common utility parameters. Our estimates suggest substantial welfare loss due to asymmetric information. Comparing duopoly outcomes with (counterfactual) monopoly outcomes, we find that with less competition (i) producer surplus increases substantially; (ii) more “low-type” consumers are excluded; (iii) product variety increases, but benefits accrue only to the “high-type” consumers; (iv) total consumer surplus decreases; (v) but its distribution, across consumers, does not change.
Book Synopsis An Empirical Analysis of Optimal Nonlinear Pricing by : Soheil Ghili
Download or read book An Empirical Analysis of Optimal Nonlinear Pricing written by Soheil Ghili and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In "continuous choice" settings, consumers decide not only on whether to purchase a product, but also on how much to purchase. As a result, firms should optimize a full price schedule rather than a single price point. This paper provides a methodology to empirically estimate the optimal schedule under multi-dimensional consumer heterogeneity. We apply our method to novel data from an educational-services firm that contains purchase-size information not only for deals that materialized, but also for potential deals that eventually failed. We show that the optimal second-degree price discrimination (i.e., optimal nonlinear tariff) improves the firm's profit upon linear pricing by about 7.9%. That said, this second-degree price discrimination scheme only recovers 7.4% of the gap between the profitability of linear pricing (i.e., no price discrimination) and that of infeasible first degree price discrimination. We also conduct several further counterfactual analyses (i) comparing the role of demand- v.s. cost-side factors in shaping the optimal price schedule, (ii) examining third-degree price discrimination, and (iii) empirically quantifying the magnitude by which incentive-compatibility constraints impact the optimal pricing and profits.
Book Synopsis Empirical Analysis of Network Effects in Nonlinear Pricing Data by : Liang Chen
Download or read book Empirical Analysis of Network Effects in Nonlinear Pricing Data written by Liang Chen and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Empirical and Analytical Analysis of Nonlinear Pricing Strategies by : Ping Xiao
Download or read book Empirical and Analytical Analysis of Nonlinear Pricing Strategies written by Ping Xiao and published by . This book was released on 2008 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Nonlinear Pricing Without Market Power by : Eduardo Brou
Download or read book Nonlinear Pricing Without Market Power written by Eduardo Brou and published by . This book was released on 2013 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to received Economic Theory, the implementation of price discrimination by a firm requires market power, at least in the short term. However, mere observation of reality, confirmed by empirical studies, shows that in extremely competitive industries, with approximately zero economic profit, the practice of price discrimination is verified, especially its second degree variant (Nonlinear Pricing), this phenomenon being more the rule than the exception.This paper explains theoretically the sustainability of second degree price discrimination in perfectly contestable markets (a generalisation of the notion of perfectly competitive markets i.e. those without any market power), thus explaining an empirical phenomenon not authorised by received Economic Theory. Nonlinear Pricing systems emerge as mechanisms that, in competitive environments, and with minimal central planning (centralisation of information), will allow greater social efficiency, constituting a "second-best invisible hand."
Book Synopsis Empirical Analysis of Competitive Product Line Pricing Decisions by : Vrinda Kadiyali
Download or read book Empirical Analysis of Competitive Product Line Pricing Decisions written by Vrinda Kadiyali and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Researchers have recently developed models for determining which market conduct best describes observed data. We apply these techniques from the "new empirical industrial organization" literature to the competitive product line pricing decision, where a firm strategically prices its brands when determining the profit-maximizing conduct in the market. Demand, cost, and market structure are estimated endogenously. Empirical results from analyzing price competition in the laundry detergent market between Procter and Gamble selling Tide and EraPlus, and Lever Brothers offering Wisk and Surf, indicate that each firm positions its strong brand as a Stackelberg leader, with the rival's minor brand being the follower.
Book Synopsis On Competitive Nonlinear Pricing by : Andrea Attardi
Download or read book On Competitive Nonlinear Pricing written by Andrea Attardi and published by . This book was released on 2015 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many financial markets rely on a discriminatory limit-order book to balance supply and demand. We study these markets in a static model in which uninformed market makers compete in nonlinear tariffs to trade with an informed insider, as in Glosten (1994), Biais, Martimort, and Rochet (2000), and Back and Baruch (2013). We analyze the case where tariffs are unconstrained and the case where tariffs are restricted to be convex. In both cases, we show that pure-strategy equilibrium tariffs must be linear and, moreover, that such equilibria only exist under exceptional circumstances. These results cast doubt on the stability of even well-organized financial markets.
Book Synopsis Empirical Analysis of Competitive Pricing Strategies with Complementary Product Lines by : Yu Ma
Download or read book Empirical Analysis of Competitive Pricing Strategies with Complementary Product Lines written by Yu Ma and published by . This book was released on 2013 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We build an econometric model of a household's purchase incidence and brand choice decisions in complementary product categories to account for cross-category dependence in demand. Complementarity is modeled as the additional utility that a household derives from the joint consumption of brands in complementary categories. We estimate the proposed multi-category demand model using scanner panel data on cake mix and frosting categories. Using the estimated demand model as an input, we investigate whether the observed retail prices in the two categories are consistent with joint-category profit maximization behavior on the part of the retailer. We also investigate whether manufacturers' pricing behavior is consistent with maximizing the sum of profits from their brands (bearing the same umbrella name) in both complementary categories. Lastly, we investigate the nature of vertical channel interactions between the manufacturers and the retailer.We find that our proposed multi-category demand model fits households' purchasing outcomes better than traditional single-category demand models (which yield significantly under-stated within-category price elasticities). While each brand in one category is a complement for every brand in the other category, the cross-category complementarity and cross-category price elasticity are found to be strongest with respect to the umbrella brand name in the other category. We find that the data are consistent with joint-category profit maximization behavior by the retailer across the two categories, and with a Vertical Nash game between the retailer and the manufacturer. Finally, we find that the data are consistent with a Bertrand-Nash pricing game among manufacturers maximizing the sum of their brands' profits in the two categories. In fact, joint-category profit maximization is found to be a dominant strategy for each manufacturer.
Book Synopsis Three Principles of Competitive Nonlinear Pricing by : Frank H. Page
Download or read book Three Principles of Competitive Nonlinear Pricing written by Frank H. Page and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels by : Carl Chiarella
Download or read book Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels written by Carl Chiarella and published by Emerald Group Publishing. This book was released on 2006-05-30 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book represents an ongoing research agenda the aim of which is to contribute to the Keynesian paradigm in macroeconomics. It examines the Dynamic General Equilibrium (DGE) model, the assumption of intertemporal optimizing behavior of economic agents, competitive markets and price mediated market clearing through flexible wages and prices.
Book Synopsis Three Principles of Competitive Nonlinear Pricing by :
Download or read book Three Principles of Competitive Nonlinear Pricing written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Economics at the University of Warwick presents the full text of the research paper entitled "Three Principles of Competitive Nonlinear Pricing," by Frank H. Page, Jr. and Paulo K. Monteiro that was published in May 2001. The paper is in PDF format. The authors discuss nonlinear pricing games and Nash equilibrium, the competitive taxation principle, the delegation principle, and the competitive revelation principle.
Book Synopsis Competitive Nonlinear Pricing Under Adverse Selection by : Andrea Attar
Download or read book Competitive Nonlinear Pricing Under Adverse Selection written by Andrea Attar and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Theoretical and Empirical Studies in Strategic Pricing by : Pedro A. Almoguera
Download or read book Theoretical and Empirical Studies in Strategic Pricing written by Pedro A. Almoguera and published by . This book was released on 2006 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Fairness of Pricing by : Bruno S. Frey
Download or read book On the Fairness of Pricing written by Bruno S. Frey and published by . This book was released on 1990 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Nonlinear Pricing by : Robert B. Wilson
Download or read book Nonlinear Pricing written by Robert B. Wilson and published by Oxford University Press, USA. This book was released on 1993 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: What do phone rates, frequent flyer programs, and railroad tariffs all have in common? They are all examples of nonlinear pricing. Pricing is nonlinear when it is not strictly proportional to the quantity purchased. The Electric Power Research Institute has commissioned Robert Wilson to review the various facets of nonlinear pricing. The work starts with a general non-mathematical discussion, followed by a more technical presentation intended for readers with a fairly advanced background. Thorough and detailed, this study has ample examples of case studies from a variety of industries.
Book Synopsis Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels by : Carl Chiarella
Download or read book Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels written by Carl Chiarella and published by Elsevier Science Limited. This book was released on 2006-05-30 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book represents an ongoing research agenda the aim of which is to contribute to the Keynesian paradigm in macroeconomics. It examines the Dynamic General Equilibrium (DGE) model, the assumption of intertemporal optimizing behavior of economic agents, competitive markets and price mediated market clearing through flexible wages and prices.
Book Synopsis Competitive Nonlinear Pricing and Contract Variety by : Jian Shen
Download or read book Competitive Nonlinear Pricing and Contract Variety written by Jian Shen and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze markets with both horizontally and vertically differentiated products under both monopoly and duopoly. In the base model with two consumer types, we identify conditions under which entry prompts an incumbent to expand or contract its low end of the product line. Our analysis offers a novel explanation for the widespread use of 'fighting brands' and 'product line pruning.' We also extend our analysis to asymmetric firms and three types of consumers and show that depending on the specific environment, entry may lead the incumbent to expand or contract the middle range of its product line (middle contracts). Our results are mainly driven by interactions between horizontal differentiation (competition) and vertical screening of consumers.
