Artikel
Durable goods monopoly with stochastic costs
I study the problem of a durable goods monopolist who lacks commitment power and whose marginal cost of production varies stochastically over time. I show that a monopolist with stochastic costs usually serves the different types of consumers at different times and charges them different prices. When the distribution of consumer valuations is discrete, the monopolist exercises market power and there is inefficient delay. When there is a continuum of types, the monopolist cannot extract rents and the market outcome is efficient.
- Sprache
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Englisch
- Erschienen in
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Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 12 ; Year: 2017 ; Issue: 2 ; Pages: 817-861 ; New Haven, CT: The Econometric Society
- Klassifikation
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Wirtschaft
Market Structure, Pricing, and Design: Monopoly
Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
Bargaining Theory; Matching Theory
- Thema
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Durable goods
Coase conjecture
stochastic costs
dynamic games
- Ereignis
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Geistige Schöpfung
- (wer)
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Ortner, Juan
- Ereignis
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Veröffentlichung
- (wer)
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The Econometric Society
- (wo)
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New Haven, CT
- (wann)
-
2017
- DOI
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doi:10.3982/TE1886
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Ortner, Juan
- The Econometric Society
Entstanden
- 2017
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