Title of article :
On the uniqueness of optimal prices set by monopolistic sellers
Author/Authors :
van den Berg، نويسنده , , Gerard J.، نويسنده ,
Issue Information :
دوفصلنامه با شماره پیاپی سال 2007
Abstract :
This paper considers price determination by monopolistic sellers who know the distribution of valuations among the potential buyers. We derive a novel condition under which the optimal price set by the monopolist is unique. In many settings, this condition is easy to interpret, and it is valid for a very wide range of distributions of valuations. The results carry over to the optimal minimum price in independent private value auctions. In addition, they can be fruitfully applied in the analysis of quantity discount price policies.
Keywords :
Minimum price , Hazard rate , Regularity , Monopoly , auction
Journal title :
Journal of Econometrics
Journal title :
Journal of Econometrics