منابع مشابه
Monopoly money: the effect of payment coupling and form on spending behavior.
This article examines consumer spending as a function of payment mode both when the modes differ in terms of payment coupling (association between purchase decision and actual parting of money) and physical form as well as when the modes differ only in terms of form. Study 1 demonstrates that consumers are willing to spend more when a credit card logo is present versus absent. Study 2 shows tha...
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The monetary character of trade, use of a common medium of exchange, is shown to be an outcome of economic general equilibrium in the presence of transaction costs and market segmentation (in trading posts with a separate budget constraint at each transaction). Commodity money arises endogenously as the most liquid (lowest transaction cost) asset. Scale economies in transaction cost account for...
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 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 ...
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ژورنال
عنوان ژورنال: Nature Biotechnology
سال: 2001
ISSN: 1087-0156,1546-1696
DOI: 10.1038/89422