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Consumer Scores And Price Discrimination
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Book Synopsis Consumer Scores and Price Discrimination by : Alessandro Bonatti
Download or read book Consumer Scores and Price Discrimination written by Alessandro Bonatti and published by . This book was released on 2018 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: A long-lived consumer interacts with a sequence of firms in a stationary Gaussian setting. Each firm relies on the consumer's current score -- an aggregate measure of past quantity signals discounted exponentially -- to learn about her preferences and to set prices. In the unique stationary linear Markov equilibrium, the consumer reduces her demand to drive average prices below the no-information benchmark. The firms' learning is maximized by persistent scores, i.e., scores that overweigh past information relative to Bayes' rule when observing disaggregated data. Hidden scores -- those only observed by firms -- reduce demand sensitivity, increase expected prices, and reduce expected quantities.
Book Synopsis Behavior-Based Price Discrimination with a General Demand by : Rosa Branca Esteves
Download or read book Behavior-Based Price Discrimination with a General Demand written by Rosa Branca Esteves and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper offers a complete picture of the impact of behavior-based price discrimination on profits, consumer surplus, and welfare in markets with a general demand function, where consumers and firms can discount the future at different discount factors. Regardless of the demand function considered, in comparison to uniform pricing, BBPD reduces firmsí second-period prices and profits. In contrast, we show that new results arise regarding the impact of BBPD on first-period prices. Under perfectly inelastic and CES demand, the firm-side e§ect is null and the consumer-side e§ect fully explains the increase in first-period prices. This is no longer the case when the price elasticity of demand varies with price level. Specifically, we show that the firm-side effect can lead firms to raise first-period prices, even when consumers are myopic. We also show that, depending on the demand function considered, the consumer side effect can act to reduce or increase first-period prices. The overall impact of BBPD on first-period prices depends on the interplay between these two effects. Our analysis reveals that the output effect and consumer switching play an important role in explaining the impact of BBPD on welfare. When discount factors are equal, BBPD may have a positive or negative impact on consumer surplus and social welfare, which contrasts with the result that BBPD is beneficial for consumers under a unit and CES demand. For a linear demand function, we identify the regions for firms and consumers discount factors where BBPD can simultaneously enhance or reduce total discounted profits, consumer surplus, and social welfare.
Book Synopsis The Economics of Price Discrimination by : Louis Phlips
Download or read book The Economics of Price Discrimination written by Louis Phlips and published by Cambridge University Press. This book was released on 1983-06-30 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and unified explanation of how prices are determined in practice, written in a non-technical way.
Book Synopsis Consumer Search and Price Discrimination: Theory and Evidence From the United States Long-Distance Market by :
Download or read book Consumer Search and Price Discrimination: Theory and Evidence From the United States Long-Distance Market written by and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Best Prices by : Judith A. Chevalier
Download or read book Best Prices written by Judith A. Chevalier and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a method for constructing price indices when retailers use periodic sales to price-discriminate amongst heterogeneous customers. To do so, we introduce a model in which Loyal customers buy one brand and do not strategically time purchases, while Bargain Hunters always pay the lowest price available, the "best price". We derive the ideal price index and demonstrate empirically that accounting for our best price construct substantially improves the match between conventional price indices and actual prices paid by consumers. We demonstrate that our methodology improves inflation measurement without imposing an unrealistically large burden on the data-collection agency.
Book Synopsis Price Discrimination with Varying Qualities of Information by : Qihong Liu
Download or read book Price Discrimination with Varying Qualities of Information written by Qihong Liu and published by . This book was released on 2015 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in information technology have greatly enhanced firms' ability to collect, market and utilize consumer information. As the market for consumer information expands rapidly, businesses are armed with unprecedented means to target any group of consumers they desire. This has important and far-reaching impacts on consumer welfare. In this paper we analyze the welfare impacts of price discrimination facilitated by increasing qualities of consumer information. We employ a two-dimensional spatial differentiation model where consumer information is available on one dimension, and better information leads to more refined price discrimination. We find that as information quality improves, equilibrium prices and profits monotonically increase while consumer surplus and social surplus monotonically decrease. Price discrimination has a reduced demand elasticity effect which becomes stronger when consumer information becomes more precise. Our results suggest that regulators need to pay more attention to the potential damage to consumer welfare by the increasing collection and utilization of consumer information. We also endogenize firms' information acquisition decisions.
Book Synopsis Consumer Search and Price Discrimination by : Carlos Alberto Arango
Download or read book Consumer Search and Price Discrimination written by Carlos Alberto Arango and published by . This book was released on 2000 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Discrimination and Salience-driven Consumer Preferences by : Nana Adrian
Download or read book Price Discrimination and Salience-driven Consumer Preferences written by Nana Adrian and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper generalizes the price discrimination framework of Mussa and Rosen (1978) by considering salience-driven consumer preferences in the sense of Bordalo et al. (2013b). Consumers with salience-driven preferences give a higher weight to attributes that vary more. This reduces the monopolist's propensity to treat different types of consumers differently. The paper's main result characterizes the conditions under which the monopolist induces consumers to focus on price rather than on quality.
Book Synopsis Search and Price Discrimination Online by : Eeva Mauring
Download or read book Search and Price Discrimination Online written by Eeva Mauring and published by . This book was released on 2021 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper theoretically studies price discrimination based on search costs. "Shoppers" have a zero and "nonshoppers" a positive search cost. A consumer faces a nondiscriminatory "common" price with some probability, or a discriminatory price. In equilibrium, firms mix over the common and the shoppers' discriminatory prices, but set a singleton nonshoppers' discriminatory price. Less likely price discrimination mostly benefits consumers. An individual firm's profit can increase in the number of firms. These results have important implications for regulations that limit the tracking of consumers (e.g., EU's GDPR, California's CCPA) and for evaluating competition online based on the number of firms.
Book Synopsis Price Discrimination with Consumer Misperception by : Oren Bar-Gill
Download or read book Price Discrimination with Consumer Misperception written by Oren Bar-Gill and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Competitive Imperfect Price Discrimination and Market Power by : Paul Belleflamme
Download or read book Competitive Imperfect Price Discrimination and Market Power written by Paul Belleflamme and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Two duopolists compete in price on the market for a homogeneous product. They can ‘profile’ consumers, i.e., identify their valuations with some probability. If both firms can profile consumers but with different abilities, then they achieve positive expected profits at equilibrium. This provides a rationale for firms to (partially and unequally) share data about consumers, or for data brokers to sell different customer analytics to competing firms. Consumers prefer that both firms profile exactly the same set of consumers, or that only one firm profiles consumers, as this entails marginal cost pricing (so does a policy requiring list prices to be public). Otherwise, more protective privacy regulations have ambiguous effects on consumer surplus.
Book Synopsis Intertemporal Price Discrimination by : Peter J. McGoldrick
Download or read book Intertemporal Price Discrimination written by Peter J. McGoldrick and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Discrimination and Consumer Surplus by : Christopher H. Nevison
Download or read book Price Discrimination and Consumer Surplus written by Christopher H. Nevison and published by . This book was released on 1979 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Consumers' Discrete Emotional Responses to Price Discrimination in the Service Context by : Isabelle Engeler
Download or read book Consumers' Discrete Emotional Responses to Price Discrimination in the Service Context written by Isabelle Engeler and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Price discrimination is a key pricing strategy employed by many service firms to remain profitable by charging the right price to the right customer and better allocating typically perishable capacities. Paying a different price than a co-consumer can, however, elicit strong emotional reactions among consumers, such as anger, pride, or gratitude. Most previous studies in behavioral pricing research have applied a valence-based approach to study affective price phenomena. They have shown that positive price emotions increase positive consumer responses, while negative price emotions induce negative reactions. However, the adequacy of this valence-based approach to accurately predict consumer behavior has been questioned as different emotions of the same valence have been found to exert a distinct effect on consumers' judgments and behaviors. The thesis at hand uses a discrete emotions approach and systematically investigates consumers' discrete emotional responses to price discrimination. By primarily drawing on appraisal theories of emotion, this thesis develops and empirically tests a conceptual framework to study the antecedents of consumers' specific emotions in response to paying a different price than a co-consumer and their consequences on post-purchase behavior. Specifically, the results of a set of four experiments provide evidence that combinations of how consumers cognitively appraise a price discrimination event in terms of distributive fairness (advantaged versus disadvantaged unfairness) and the attribution of agency for the price difference (self-, service provider-, circumstance-, versus unspecified agency) provide pertinent conditions to differentiate between a set of relevant emotions (i.e., anger, negative self-conscious emotions, pride, gratitude, pity, malicious pleasure, surprise, relief). Moreover, the results demonstrate that although paying more than a co-consumer elicits negative emotions, not all types.
Book Synopsis Behavior-Based Price Discrimination and Consumer Protection in the Age of Algorithms by : Haggai Porat
Download or read book Behavior-Based Price Discrimination and Consumer Protection in the Age of Algorithms written by Haggai Porat and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The legal literature on price discrimination focuses primarily on consumers' immutable features, like when higher interest rates are offered to black borrowers and higher prices to women at car dealerships. This paper examines a different type of discriminatory pricing practice: behavior-based pricing (BBP), where prices are set based on consumers' behavior, most prominently their prior purchasing decisions. The increased use of artificial intelligence and machine learning algorithms to set prices has facilitated the growing penetration of BBP in various markets. Unlike race-based and sex-based discrimination, with BBP, consumers can strategically adjust their behavior to impact the prices they will be offered in the future. Sellers, in turn, can adjust prices in early periods to influence consumers' purchasing decisions so as to increase the informational value of these decisions and thereby maximize profits. This paper analyzes possible legal responses to BBP and arrives at three surprising policy implications: One, when non-BBP discrimination is efficient but with potentially problematic distributional implications, BBP can either increase or decrease efficiency. Two, even if BBP is desirable, mandating its disclosure may reduce overall welfare even though this would reduce informational asymmetry in the market. Three, a right to be forgotten (a right to erasure) may be desirable even though it increases informational asymmetry.
Book Synopsis Behavior- and Characteristic-Based Price Discrimination by : Stefano Colombo
Download or read book Behavior- and Characteristic-Based Price Discrimination written by Stefano Colombo and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a model of behavior- and characteristic-based discriminatory pricing where consumers are heterogeneous both in tastes and in price sensitivity. Each firm is able to distinguish between the consumers that have bought from it and those that have bought from the rival. Furthermore, each firm learns the price sensitivity of their own consumers. We show that using this additional information may yield higher profits than uniform pricing provided that consumers are heterogeneous enough with respect to price sensitivity. We also discuss consumer surplus implications of such behavior- and characteristic-based price discrimination, and we show that the impact of price discrimination depends on both the consumer type and the level of consumers' heterogeneity.
Book Synopsis Price Discrimination with Costly Consumer Arbitrage by : Simon P. Anderson
Download or read book Price Discrimination with Costly Consumer Arbitrage written by Simon P. Anderson and published by . This book was released on 1994 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
