Viscous demand
نویسنده
چکیده
In many markets, demand adjusts slowly to changes in prices, i.e., demand is “viscous.” For such a market, the time path of a firm’s prices acquires added significance, compared with the case of instantaneous demand response. In this paper I explore some problems in strategic dynamic pricing of a service, in the presence of viscous demand, for simple models of a monopoly and a duopoly.
منابع مشابه
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We characterize the optimal dynamic price policy of a monopolist who faces “viscous” demand for its services. Demand is viscous if it adjusts relatively slowly to price changes. We show that with the optimal policy the monopolist stops short of achieving 100% market penetration, even when all of the consumers have the same long-run willingness to pay for the service. Furthermore, for certain pa...
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ورودعنوان ژورنال:
- J. Economic Theory
دوره 112 شماره
صفحات -
تاریخ انتشار 2003