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Behavior-based pricing under imperfectly informed consumers

Rosa-Branca Esteves, Sofia Cerqueira
2017 Information Economics and Policy  
As a result of that in contrast to the pro...t and consumer welfare results obtained under full informed consumers, we show that BBPD boosts industry pro...ts at the expense of consumer welfare.  ...  We show that in comparison to no discrimination, ...rms reduce their advertising e¤orts, charge higher ...rst period prices and lower second period prices.  ...  imperfectly informed.  ... 
doi:10.1016/j.infoecopol.2017.06.007 fatcat:kilomaec75bp3ajkztmbjk7pvy

Page 34 of The Journal of Business Vol. 53, Issue 3 [page]

1980 The Journal of Business  
Stigler (1961) analyzes the behavior of an imperfectly informed con- sumer interested in purchasing a homogenous good.  ...  Economics of Consumer Information Acquisition II.  ... 

IMPERFECT COMPETITION, UNDEREMPLOYMENT AND CROWDING-OUT*

DENNIS J. SNOWER
1983 Oxford Economic Papers  
For now the numerous buyers would require information on each other's demand behavior and on the aggregate supply and the few sellers would require information on each other's supply behavior.  ...  Behavior of the Imperfectly Competitive Agents 3a.  ... 
doi:10.1093/oxfordjournals.oep.a041612 fatcat:evhtaulu7ba3jnuw5salysz6mi

Loss leading and price intervention in multiproduct retailing: welfare outcomes in a second-best world

Patrick Paul Walsh, Ciara Whelan
1999 International Review of Law and Economics  
Loss leading is modeled in the presence of imperfect competition and consumer information in a stage game framework.  ...  We examine whether loss leading pricing strategies in multiproduct retailing should be a target of antitrust policy.  ...  Under perfect information, Bliss (1988) predicts that constrained price discrimination based on Ramsey pricing rules determine pricing.  ... 
doi:10.1016/s0144-8188(99)00015-0 fatcat:5k3vmzery5dvtgfwx2k3qoixra

Breakeven and profitability analyses in marketing management using R software

Khalid M. Dubas, Lewis Hershey, Inder P. Nijhawan, Rajiv Mehta
2011 Innovative Marketing  
However, most firms operate in an imperfectly competitive market and exercise some control over the price of their products; they also control their product quality, promotion, and distribution.  ...  This article evaluates breakeven and profitability analyses for firms in perfectly competitive and imperfectly competitive markets.  ...  They present the behavior of an imperfectly competitive firm (described in Table 1 , below) under their heading "Marginal Analysis Considers Both Costs and Demand".  ... 
doaj:0f852d2c849d4e02b0779bf162372623 fatcat:ltd6jhbdhbgbfccuojqutfiz64

Credit Card Pricing: The CARD Act and Beyond

Oren Bar-Gill, Ryan Bubb
2011 Social Science Research Network  
We argue that improved disclosures that provide consumers with the aggregate cost of credit under the contract, based on information about the borrower's likely use of credit, would improve consumer outcomes  ...  Post-CARD Act, consumers continue to face high long-term prices and low short-term prices, and imperfectly rational consumers still have difficulty understanding the cost of credit card borrowing.  ...  remain). implement efficient risk-based pricing. 69 Under the behavioral economics theory, high back-end prices are part of a welfare-reducing pattern of salience-based pricing. 70 Low front-end prices  ... 
doi:10.2139/ssrn.1985948 fatcat:zshtcwvqkrgdxc7g5xp3j57caq

THE ROLE OF BEHAVIORAL ECONOMICS IN EXPLAINING CONSUMPTION DECISION

Mihaela Andreea STROE
2015 Challenges of the Knowledge Society  
Limited Rationality implies both that the agent is imperfectly informed decision-making in a complex and dynamic environment, and a limited ability processing.  ...  At this stage of the paper, we explain the inconsistency in consumer preferences and the exceptions to the standard theory by making light upon what is called in behavioral economics: the effects of property  ...  Content In the study of consumption, economists generally speak about a common theoretical framework by assuming that consumers base their expenditures on a rational and informed assessment of their current  ... 
doaj:48b279c5206b4dd69c8092e364df6f37 fatcat:q4qf3vkl2rgcdg6p5csjkvdoai

Measuring Returns to an Innovation in an Imperfectly Competitive Market: Application to Mechanical Harvesting of Processing Tomatoes in Taiwan

S.-Y. Huang, R. J. Sexton
1996 American Journal of Agricultural Economics  
We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org.  ...  The Schmitz and Seckler, and Brandt and French studies indicated the generation of substantial net benefits from mechanical harvest-Shu-Yu Huang is an agricultural economist based in Saratoga, California  ...  Because AR, > ARm, price decreases more and consumers benefit more under perfect competition. The change in producer surplus under perfect competition is Rm > 0.  ... 
doi:10.2307/1243274 fatcat:brcao4zrnrewvcnhx5mg73rv6y

We sold a million units: the role of advertising past-sales

Paulo K. Monteiro, José Luis Moraga-González
2003 Revista Brasileira de Economia  
Extension: Second-generation consumers are better informed; 6. Conclusions.  ...  Consumers privately receive an imperfectly informative signal about the true taste parameter.  ...  The picture changes dramatically because under this informational assumption prices are capable of signalling the private information possessed by the seller.  ... 
doi:10.1590/s0034-71402003000200004 fatcat:34u5le3rvfar7mrqhvf3hnfpoa

Market Segmentation and Collusive Behavior

Qihong Liu, Konstantinos Serfes
2006 Social Science Research Network  
Firms, therefore, may seek ways to soften competition and sustain higher prices. Our main result is that collusion becomes more difficult as the firms' ability to segment consumers improves.  ...  The recent literature on oligopolistic third-degree price discrimination has been primarily concerned with rival firms' incentives to acquire customer-specific information and the consequences of such  ...  This makes collusion under scheme 3 increasingly more difficult relative to collusion under scheme 1 as consumer information improves.  ... 
doi:10.2139/ssrn.886088 fatcat:hdfb5tdlfbhfpdbthhvffnxzxq

'BUT CAN'T WE GET THE SAME THING WITH A STANDARD MODEL?' RATIONALIZING BOUNDED-RATIONALITY MODELS

Ran Spiegler
2011 Economics and Philosophy  
Using a market model with boundedly rational consumers due to Spiegler (2006a) as a test case, I show that even when it initially appears that a bounded-rationality model can be rationalized by a standard  ...  When consumers are imperfectly informed of the firms' types, the firms' pricing strategy in equilibrium is independent of their type, because there is nothing in the incentive structure in the model that  ...  Instead of viewing the samples as part of the choice procedure in a complete-information model, we can re-interpret the samples as information sets in a model in which consumers are imperfectly informed  ... 
doi:10.1017/s0266267110000453 fatcat:wk745j3a2jazbh3bo7lquisee4

But Can't We Get the Same Thing with a Standard Model? [chapter]

Spiegler Ran
2011 Bounded Rationality and Industrial Organization  
Using a market model with boundedly rational consumers due to Spiegler (2006a) as a test case, I show that even when it initially appears that a bounded-rationality model can be rationalized by a standard  ...  When consumers are imperfectly informed of the firms' types, the firms' pricing strategy in equilibrium is independent of their type, because there is nothing in the incentive structure in the model that  ...  Instead of viewing the samples as part of the choice procedure in a complete-information model, we can re-interpret the samples as information sets in a model in which consumers are imperfectly informed  ... 
doi:10.1093/acprof:oso/9780195398717.003.0013 fatcat:pqaygbndhjdzbleko2xlmi44hm

Measuring research benefits in an imperfect market

R Sexton
1996 Agricultural Economics  
The key result, based on simulations of the market equilibrium under alternative demand and cost elasticity configurations, was that research benefits were greater under monopoly than under perfect competition  ...  Voon (1994) recently analyzed the benefits of research in an imperfectly competitive market for an agricultural input.  ...  Table 1 1 Gains from cost-reducing research under monopoly vs. perfect competition Price Producers ($) Consumers ($) elasticities Surplus gain under perfect competition Note that qualitatively  ... 
doi:10.1016/0169-5150(95)01157-9 fatcat:jbypw5kqkjcsdk6mwbxxvydojm

Economic of online music

Sudip Bhattacharjee, Ram D. Gopal, Kaveepan Lertwachara, James R. Marsden
2003 Proceedings of the 5th international conference on Electronic commerce - ICEC '03  
We present five different pricing models running from a base case of a traditional brick and mortar retailer not facing a piracy option to an online retailer offering per unit and subscription pricing  ...  But the new potential benefits for consumers are juxtaposed against challenges and opportunities for sellers of such goods.  ...  Telser (1979) studied a search process by imperfectly informed consumers in a market offering "various combinations of price and quality".  ... 
doi:10.1145/948005.948045 dblp:conf/ACMicec/BhattacharjeeGLM03 fatcat:ucga57zzkvgo7ng5lmhygwfg5e

RICE PRICE VOLATILITY IN EAST JAVA

R.Y.E. Wati, R. Anindita, B. Setiawan
2017 Russian Journal of Agricultural and Socio-Economic Sciences  
The need to guarantee an effective floor price as well as information disclosure related to the market commodity prices so that the pattern of prices transmission among interrelated markets can be symmetrical  ...  The results of the analysis show that price volatility at the farmer level is very high (extremely high volatility), price volatility at the consumer level is low (low volatility), and volatility spillover  ...  Based on table 2.  ... 
doi:10.18551/rjoas.2017-09.32 fatcat:gtkmyxxt3zaatibacrz2igreve
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