Download or read book Price Dispersion and Demand Uncertainty written by Benjamin Eden and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Demand Uncertainty and Price Dispersion written by Suxi Li and published by . This book was released on 2007 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demand uncertainty has been recognized as one factor that may cause price dispersion in perfectly competitive markets with costly and perishable capacity. With the persistence of the degree of price dispersion in increasingly competitive markets, demand uncertainty has become more important for us to understand the phenomenon of fare inequality. This dissertation consists of three related studies on this topic. In the first study, Prescott (1975) model is extends by incorporating the heterogeneity of customers2 reservation values. The model shows that the equilibrium price dispersion also depends on the mix of customers and their reservation values. With customer segmentation based on reservation values, the equilibrium price dispersion is more efficient than what can be achieved without segmentation. In the airline industry context, the model implies that different prices can exist simultaneously in the market and carriers would provide more seats if they can segment their travelers. This sheds light on an alternative motivation for airlines to require Saturday night stay over other than the practice of price discrimination. In the second study, a price simulation in the airline industry is conducted. The stochastic demand for coach class, nonstop, air travel service on the observed routs is calculated. Then a market price schedule based on Prescott2s model is simulated by using nonparametric method. The comparison between the simulated price distribution and the actual price distribution provides evidence that on average more than 60 percent of the fare inequality on the observed routes can be accounted for by cost variation due to demand uncertainty under the condition of perfect competition. At last, an empirical model is specified to explore the relationship between route demand uncertainty and carrier price dispersion in U.S. air travel markets. The results demonstrate that the effect of route demand uncertainty on carrier price dispersion varies with the market structure. In monopoly market, the route demand uncertainty has no effect on carrier price dispersion. While in duopoly and competitive markets, the increase of route demand uncertainty is associated with the decrease of the carrier price dispersion. Furthermore, the negative relationship is magnified when the market becomes more competitive.
Download or read book Equilibrium Price Dispersion Under Demand Uncertainty written by James D. Dana and published by . This book was released on 1992 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Dispersion and Demand Uncertainty written by Benjamin Eden and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I use the Prescott (1975) hotels model to explain variations in price dispersion across items sold by supermarkets in Chicago. The effect of uncertainty about aggregate demand on price dispersion is highly significant and quantitatively important: My estimates suggest that more than 40% of the cross-sectional standard deviation of log prices is due to demand uncertainty. I also find that price dispersion measures are negatively correlated with the average price but are not negatively correlated with the revenues from selling the good (across stores and weeks) and with the number of stores that sell the good.
Download or read book Equilibrium Price Dispersion Under Demand Uncertainty written by James D. Dana and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: When capacity is costly and prices are set in advance, firms facing uncertain demand will sell output at multiple prices and limit the quantity available at each price. I show that the optimal price strategy of a monopolist and the unique pure-strategy Nash equilibria of oligopolists both exhibit intrafirm price dispersion. Moreover, as the market becomes more competitive, prices become more dispersed, a pattern documented in the airline industry. While generating similar predictions, the model differs from the revenue management literature because it disregards market segmentation and fare restrictions that screen customers.
Download or read book A Test of Monopoly Price Dispersion Under Demand Uncertainty written by Brad R. Humphreys and published by . This book was released on 2010 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Demand Uncertainty and Efficiency written by Benjamin Eden and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Dispersion with Uncertain Technology written by Esther Gal-Or and published by . This book was released on 1981 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Competition in the Presence of Individual Demand Uncertainty written by Marc Möller and published by . This book was released on 2013 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Dispersion Private Uncertainty And Endogenous Nominal Rigidities written by Gaetano Gaballo and published by . This book was released on 2018 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that when agents learn from prices, large private uncertainty may result from a small amount of heterogeneity. As in a Phelps-Lucas island model, final producers look at the prices of their local inputs to infer aggregate conditions. However, market linkages between islands make the informativeness of local prices endogenous to general equilibrium relations. In this context, I show that a vanishingly small heterogeneity in local conditions is enough to generate an equilibrium in which prices are rigid to aggregate shocks and transmit only partial information. I use this insight as a microfoundation for price rigidity in an otherwise frictionless monetary model and show that even a tiny amount of dispersion in fundamentals can lead to large non-neutrality of money.
Download or read book Effects of Demand Uncertainty on Equilibrium of Prices and Quantities in a Competitive Market written by Muruvvet Celikbas and published by . This book was released on 2002 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook on Entropy Complexity and Spatial Dynamics written by Reggiani, Aura and published by Edward Elgar Publishing. This book was released on 2021-12-14 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: This ground-breaking Handbook presents a state-of-the-art exploration of entropy, complexity and spatial dynamics from fundamental theoretical, empirical and methodological perspectives. It considers how foundational theories can contribute to new advances, including novel modeling and empirical insights at different sectoral, spatial and temporal scales.
Download or read book Handbook of Industrial Organization written by Mark Armstrong and published by Elsevier. This book was released on 2007-10-05 with total page 943 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is Volume 3 of the Handbook of Industrial Organization series (HIO). Volumes 1 & 2 published simultaneously in 1989 and many of the chapters were widely cited and appeared on graduate reading lists. Since the first volumes published, the field of industrial organization has continued to evolve and this volume fills the gaps. While the first two volumes of HIO contain much more discussion of the theoretical literature than of the empirical literature, it was representative of the field at that time. Since then, the empirical literature has flourished, while the theoretical literature has continued to grow, and this new volume reflects that change of emphasis.Thie volume is an excellent reference and teaching supplement for industrial organization or industrial economics, the microeconomics field that focuses on business behavior and its implications for both market structures and processes, and for related public policies.*Part of the renowned Handbooks in Economics series*Chapters are contributed by some of the leading experts in their fields*A source, reference and teaching supplement for industrial organizations or industrial economists
Download or read book Pricing Behaviour and Non Price Characteristics in the Airline Industry written by James Peoples and published by Emerald Group Publishing. This book was released on 2012-01-03 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provokes the reader to think critically about the emergence of corporate styles of governance, management and leadership in higher education institutions (HEIs) and ways in which the demands of public management and the knowledge economy has shaped and re-shaped scholarly work and identity.
Download or read book Endogenous Capacities and Price Competition written by Maria-Angeles de Frutos and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Auction Theory written by Vijay Krishna and published by Academic Press. This book was released on 2009-09-28 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auction Theory, Second Edition improves upon his 2002 bestseller with a new chapter on package and position auctions as well as end-of-chapter questions and chapter notes. Complete proofs and new material about collusion complement Krishna's ability to reveal the basic facts of each theory in a style that is clear, concise, and easy to follow. With the addition of a solutions manual and other teaching aids, the 2e continues to serve as the doorway to relevant theory for most students doing empirical work on auctions. - Focuses on key auction types and serves as the doorway to relevant theory for those doing empirical work on auctions - New chapter on combinatorial auctions and new analyses of theory-informed applications - New chapter-ending exercises and problems of varying difficulties support and reinforce key points
Download or read book Ticket Pricing Under Demand Uncertainty written by Pascal Courty and published by . This book was released on 2002 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
