منابع مشابه
Nonparametric Estimation of Exact Consumers Surplus and Deadweight Loss
We apply nonparametric regression models to estimation of demand curves of the type most often used in applied research. From the demand curve estimators we derive estimates of exact consumers surplus and deadweight loss, that are the most widely used welfare and economic efficiency measures in areas of economics such as public finance. We also develop tests of the symmetry and downward sloping...
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Now, more than ever before, pharmacologists are contributing medical advances to confront ravaging disease. They are developing drugs to mitigate the effects of Alzheimer’s, HIV, multiple sclerosis, and various forms of cancer. To capitalize on the opportunity, brand-name pharmaceutical firms are patenting these drugs, consequently guarding formulas and, with it, profits. Patents grant brand...
متن کاملMonopoly and Product Selection
It is well known that if a monopolist serving a market of substitute products can perfectly price discriminate, the socially optimal set of products (or ‘characteristics’) will be supplied. This follows since the profits of the perfectly discriminating monopolist are equal to the consumers’ surplus. Thus the monopolist will provide the product selection that maximizes consumers’ surplus [see Wh...
متن کاملCompetition, Monopoly, and Aftermarkets
Consider a durable goods producer that has the option of monopolizing an aftermarket such as repair for its own product. An important question is whether such monopolization reduces welfare? We show that the anwer to this question is frequently no. In particular, we explore three models that illustrate various ways in which aftermarket monopolization can reduce inefficiencies and thus increase ...
متن کاملOptimal Multiproduct Nonlinear Pricing with Correlated Consumer Types
In this paper we examine the design of nonlinear prices by a multiproduct monopolist who faces customers with multidimensional but correlated types. We show that the monopoly can exploit the correlations between consumers’ types to design pricing mechanisms that fully extract the surplus from each consumer. Our main insight is that regardless of the dimensionality of the consumers types and the...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 1904
ISSN: 0013-0133
DOI: 10.2307/2221361