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Six hens pecked a key (Experiment 1) or pushed a door (Experiment 2) to obtain food reinforcement. In both experiments and as an analogue of price changes, the response requirements were varied in two ways: by increasing the number of responses required and by increasing the required force of each response. The two price manipulations (response number and response force) had different effects o...

We consider inventory systems of “perishable” goods. Perishable goods cannot be carried from one period to another. Examples of perishable goods include newspaper, Christmas tree, and many grocery items like milk and banana. Here, a period could be one day, or one week, or any time frame that is appropriate in the application context. Suppose that a retailer sells a particular perishable produc...

This paper examines the competitiveness of winner-take-all price competition in homogeneous product oligopoly environments where underlying buyer demands and/or firms’ costs need not be continuous. Our analysis is motivated by the observation that a variety of economic settings have these features. For example, in 1996 an Ivy League university solicited bids from several vendors for its initiat...

According to static models of industrial organization, a rise in competition decreases prices. In this paper, I test whether this conclusion can be reversed in the mobile telecommunications markets where dynamic e ciency e ects might be signi cant. The empirical test relies on the change in the intensity of competition introduced by the entry of the fourth mobile operator in France and the merg...

Large differences in national price levels exist across countries. In this paper, I develop a general equilibrium model predicting that these differences should be related to countries’ exchange rate regimes. My empirical findings confirm that countries with fixed exchange rate regimes have higher national price levels than countries with flexible regimes. At the disaggregate level, the relatio...

The reproductive value (see Fisher 1930) arises as part of the shadow price of the population in a large class of age-structured optimal control models. 1 Institute of Mathematical Methods in Economics (Research Unit on Operations Research and Control Systems), Vienna University of Technology, Argentinierst. 8, A-1040 Vienna, Austria. E-mail: [email protected]. ac.at and Vienna Institute of Dem...

In a network creation game, initially proposed by Fabrikant et. al. [FLM+03], selfish players build a network by buying links to each other. Each player pays a fixed price per link α > 0, and suffers an additional cost that is the sum of distances to all other players. We study an extension of this game where each player is only interested in its distances to a certain subset of players, called...

The Condorcet Jury Theorem justifies the wisdom of crowds and lays the foundations of the ideology of the democratic regime. However, the Jury Theorem and most of its extensions focus on two alternatives and none of them quantitatively evaluate the effect of agents’ strategic behavior on the mechanism’s truth-revealing power. We initiate a research agenda of quantitatively extending the Jury Th...

price fairness and price satisfaction is one the most important fields in pricing and also in customer satisfaction. in this research, first the dimensions of price fairness, price satisfaction, customer satisfaction, and customer loyalty are extracted from marketing literature, then five hypotheses are developed. in proposed model, price fairness has direct impact on price satisfaction, custom...