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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:
Author : Eeva Mauring
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (131 download)
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.
Author : Louis Phlips
Publisher : Cambridge University Press
ISBN 13 : 9780521283946
Total Pages : 304 pages
Book Rating : 4.2/5 (839 download)
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.
Author : Carlos Alberto Arango
Publisher :
ISBN 13 :
Total Pages : 222 pages
Book Rating : 4.:/5 (47 download)
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:
Author : Richard Schmalensee
Publisher : North Holland
ISBN 13 :
Total Pages : 640 pages
Book Rating : 4.F/5 ( download)
Download or read book Handbook of Industrial Organization written by Richard Schmalensee and published by North Holland. This book was released on 1989-09-11 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of industrial organization/Schmalensee.-V.2.
Author : Jeffrey Banks
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book A Model of Price Promotions with Consumer Search written by Jeffrey Banks and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a price discrimination model of price promotions with consumer search. There are two types of consumers differing in their reservation prices, and the consumers with the higher reservation price incur costs in searching for promotions. We consider two variants of the model, one where the seller is a monopolist in both segments of the market, and the other where the seller faces competition in the low reservation price segment. In equilibrium, consumers search decisions are based on their correct expectations about the frequency and depth of promotions, and the firm(s) promotional strategy correctly anticipates the search behavior it will generate. We show that even a monopolist will find it optimal to randomize his promotions in order to price discriminate more efficiently. With competition in the promotional market, the seller becomes more aggressive in his promotional policies, even more so as search costs increase. But the high reservation price consumers end up worse off compared to the monopoly. By distinguishing explicitly between promotions and regular prices, our approach provides a way to build a theory of the choice of promotion vehicles (e.g., coupons, mail-in-rebates, and shelf-price reductions).
Author : Alessandro Bonatti
Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (14 download)
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.
Author : Judith A. Chevalier
Publisher :
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.:/5 (129 download)
Download or read book Best Prices : Price Discrimination and Consumer Substitution written by Judith A. Chevalier and published by . This book was released on 2014 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Choi
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (13 download)
Download or read book Consumer Search and Price Competition written by Michael Choi and published by . This book was released on 2016 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider an oligopoly model in which consumers engage in sequential search based on partial product information and advertised prices. We derive a simple condition that fully summarizes consumers' shopping outcomes and use the condition to reformulate the pricing game among the sellers as a familiar discrete-choice problem. Exploiting the reformulation, we provide sufficient conditions that guarantee the existence and uniqueness of pure-strategy market equilibrium and obtain several novel insights about the effects of search frictions on market prices. Among others, we show that a reduction in search costs increases market prices, but providing more pre-search information raises market prices if and only if there are sufficiently many sellers.
Author : Eric Emch
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.F/5 ( download)
Download or read book Price Discrimination Via Proprietary Aftermarkets written by Eric Emch and published by . This book was released on 2000 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 374 pages
Book Rating : 4.:/5 (661 download)
Download or read book Price Discrimination written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-03-27 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Price Discrimination Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different market segments. Price discrimination is distinguished from product differentiation by the more substantial difference in production cost for the differently priced products involved in the latter strategy. Price differentiation essentially relies on the variation in the customers' willingness to pay and in the elasticity of their demand. For price discrimination to succeed, a firm must have market power, such as a dominant market share, product uniqueness, sole pricing power, etc. All prices under price discrimination are higher than the equilibrium price in a perfectly competitive market. However, some prices under price discrimination may be lower than the price charged by a single-price monopolist. Price discrimination is utilized by the monopolist to recapture some deadweight loss. This Pricing strategy enables firms to capture additional consumer surplus and maximize their profits while benefiting some consumers at lower prices. Price discrimination can take many forms and is prevalent in many industries, from education and telecommunications to healthcare. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Price discrimination Chapter 2: Monopoly Chapter 3: Monopolistic competition Chapter 4: Oligopoly Chapter 5: Perfect competition Chapter 6: Imperfect competition Chapter 7: Deadweight loss Chapter 8: Two-part tariff Chapter 9: Pricing Chapter 10: Barriers to entry Chapter 11: Yield management Chapter 12: Market power Chapter 13: Non-price competition Chapter 14: Market structure Chapter 15: Pricing strategies Chapter 16: Dynamic pricing Chapter 17: Revenue management Chapter 18: Value-based pricing Chapter 19: Rental value Chapter 20: Profit (economics) Chapter 21: Monopoly price (II) Answering the public top questions about price discrimination. (III) Real world examples for the usage of price discrimination in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Price Discrimination.
Author : Carl-Christian Groh
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Search Disclosure written by Carl-Christian Groh and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study information sharing between competing sellers in markets where consumers sample sellers sequentially. Sellers can disclose to their rival when they encounter a specific buyer. Providing this information, which we call search disclosure, can enable all forms of search history-based price discrimination. Yet, firms only conduct search disclosure in equilibrium if search costs are low or price revisions are infeasible. The type of search disclosure that can emerge in equilibrium leads to price discrimination that reduces welfare and consumer surplus. However, exogenously mandated search disclosure at all times leads to higher consumer surplus. Our findings have implications for the regulation of tracking in online markets.
Author : Tamekichi Okabe
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 (91 download)
Download or read book An Experimental Study of Belief written by Tamekichi Okabe and published by . This book was released on 1910 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maarten Christiaan Wilhelmus Janssen
Publisher :
ISBN 13 :
Total Pages : 63 pages
Book Rating : 4.:/5 (13 download)
Download or read book Retail Discrimination in Search Markets written by Maarten Christiaan Wilhelmus Janssen and published by . This book was released on 2018 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the incentives of manufacturers to discriminate between exante symmetric retailers who compete for consumers with different search cost. By discriminating, a manufacturer indirectly screens searching consumers, creates more retail competition, increases its profits, but lowers consumer welfare. Low-cost retailers sell to a disproportionate share of low search cost consumers, providing strong incentives to compete; high-cost retailers also lower margins given their smaller customer base. For wholesale price discrimination to be an equilibrium outcome, some form of commitment is necessary. Legislation requiring sales at the recommended retail price serves as such a commitment device, making consumers worse off.
Author : George Alessandria
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (68 download)
Download or read book Consumer Search, Price Dispersions, and International Relative Price Volatility written by George Alessandria and published by . This book was released on 2005 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model of consumer search consistent with the evidence of substantial price dispersion within countries. This model is used to study international relative price fluctuations. Consumer search frictions permit firms to price discriminate across markets based on the local wage of consumers. With price dispersion, the market price of a good does not measure its resource cost. This breaks the tight link between relative quantities and relative prices implied by most models. The authors show that volatile and persistent fluctuations in relative wages lead to volatile and persistent fluctuations in relative prices at the disaggregate level. These deviations from the law of one price substantially increase international relative price volatility. With productivity and taste shocks, the model generates international business cycles that closely match the data.
Author : Rosa Branca Esteves
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)
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.
Author : Peter J. McGoldrick
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (62 download)
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:
