منابع مشابه
Monopoly 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 کاملEndogenous Monopoly Market Segmentation
The standard monopoly pricing problem is re-considered when the buyer’s type (e.g. age, income, experience) can be credibly disclosed at some cost. In the optimal sales mechanism with costly disclosure, the seller posts a “sticker price” available to any buyer, as well as a schedule of discounts available to those who disclose certain types. Unambiguous welfare implications are available in the...
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 کاملRobust monopoly pricing
We consider a robust version of the classic problem of optimal monopoly pricing with incomplete information. In the robust version, the seller faces model uncertainty and only knows that the true demand distribution is in the neighborhood of a given model distribution. We characterize the pricing policies under two distinct decision criteria with multiple priors: (i) maximin utility and (ii) mi...
متن کاملFactor Prices under MonoPoly
This paper explains how grants of monopolistic privileges to capitalists can lower labor and land factors’ prices compared to what would prevail in a free market environment. Monopoly gains of privileged business owners are not only “extracted” from their clients but also from factor owners. We revisit Rothbardian monopoly price theory and extend it to the realm of factor pricing. Monopolistic ...
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ژورنال
عنوان ژورنال: International Economic Review
سال: 1993
ISSN: 0020-6598
DOI: 10.2307/2527181