A Theory of Clearance Sales  

Oleh:

Nocke, Volker ; Peitz, Martin

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 117 no. 522 (Jul. 2007), page 964-990.
Topik: SALES; studies; discounts; uncertainty; monopolies; economic models
Fulltext: 964.pdf (193.82KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.26 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Clearance sales are widely used by firms as an intertemporal selling policy, in particular in markets where firms face demand uncertainty and need to choose capacity in advance. Clearance sales consist in charging a high price initially but then lowering the price in the sales period. High - valuation consumers purchase the good at the high initial price so as to avoid rationing at the low price, while low - valuation consumers wait for the price to drop. We develop a simple model of intertemporal monopoly pricing under demand uncertainty, and show that clearance sales may be the optimal intertemporal selling policy.

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