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When Promoters Like Scalpers

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Author Info

  • Larry Karp
  • Jeffrey M. Perloff

Abstract

If a monopoly supplies a perishable good, such as tickets to a performance, and is unable to price discriminate within a period, the monopoly may benefit from the potential entry of resellers. If the monopoly attempts to intertemporally price discriminate, the equilibrium in the game among buyers is indeterminate when the resellers are not allowed to enter, and the monopoly's problem is not well defined. An arbitrarily small amount of heterogeneity of information among the buyers leads to a unique equilibrium. We show how the potential entry of resellers alters this equilibrium. Copyright Blackwell Publishing 2005.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Journal of Economics & Management Strategy.

Volume (Year): 14 (2005)
Issue (Month): 2 (06)
Pages: 477-508

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Handle: RePEc:bla:jemstr:v:14:y:2005:i:2:p:477-508

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Web page: http://www.kellogg.northwestern.edu/research/journals/JEMS/

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References

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  1. Bertonazzi, Eric P & Maloney, Michael T & McCormick, Robert E, 1993. "Some Evidence on the Alchian and Allen Theorem: The Third Law of Demand?," Economic Inquiry, Western Economic Association International, vol. 31(3), pages 383-93, July.
  2. Barro, Robert J & Romer, Paul M, 1987. "Ski-Lift Pricing, with Applications to Labor and Other," American Economic Review, American Economic Association, vol. 77(5), pages 875-90, December.
  3. Van Cayseele, Patrick, 1991. "Consumer rationing and the posssibility of intertemporal price discrimination," European Economic Review, Elsevier, vol. 35(7), pages 1473-1484, October.
  4. Lott, John R, Jr & Roberts, Russell D, 1991. "A Guide to the Pitfalls of Identifying Price Discrimination," Economic Inquiry, Western Economic Association International, vol. 29(1), pages 14-23, January.
  5. Carlsson, H. & Damme, E.E.C. van, 1990. "Global games and equilibrium selection," Discussion Paper 1990-52, Tilburg University, Center for Economic Research.
  6. Dudey, Marc, 1996. "Dynamic Monopoly with Nondurable Goods," Journal of Economic Theory, Elsevier, vol. 70(2), pages 470-488, August.
  7. Rubinstein, Ariel, 1989. "The Electronic Mail Game: Strategic Behavior under "Almost Common Knowledge."," American Economic Review, American Economic Association, vol. 79(3), pages 385-91, June.
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Citations

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Cited by:
  1. Phillip Leslie & Alan Sorensen, 2009. "The Welfare Effects of Ticket Resale," NBER Working Papers 15476, National Bureau of Economic Research, Inc.
  2. Craig Depken, 2007. "Another look at anti-scalping laws: Theory and evidence," Public Choice, Springer, vol. 130(1), pages 55-77, January.
  3. Karp, Larry, 2008. "Correct (and misleading) arguments for using market based pollution control policies," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt8rw5801j, Department of Agricultural & Resource Economics, UC Berkeley.
  4. Liang, Xiaoying & Xie, Lei & Yan, Houmin, 2012. "Bertrand competition with intermediation," Economics Letters, Elsevier, vol. 116(1), pages 112-114.
  5. Drayer, Joris & Rascher, Daniel A. & McEvoy, Chad D., 2012. "An examination of underlying consumer demand and sport pricing using secondary market data," Sport Management Review, Elsevier, vol. 15(4), pages 448-460.
  6. Andrew Sweeting, 2008. "Equilibrium Price Dynamics in Perishable Goods Markets: The Case of Secondary Markets for Major League Baseball Tickets," NBER Working Papers 14505, National Bureau of Economic Research, Inc.

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