Equilbrium Price Dispersion Under Demand Uncertainty : The Roles of Costly Capacity and Market Structure  

Oleh:

Dana, James D., (Jr.)

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Rand Journal of Economics vol. 30 no. 4 (1999), page 632-660.
Topik: MARKET STRUCTURE; equilibrium; price dispersion; demand; capacity; market structure

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.7 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

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.

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