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When promoters like scalpers

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Author Info

  • Karp, Larry S.

    ()
    (University of California, Berkeley. Dept of agricultural and resource economics and policy)

  • Perloff, Jeffrey M

    ()
    (University of California, Berkeley. Dept of agricultural and resource economics and policy)

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.

(This abstract was borrowed from another version of this item.)

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File URL: http://repositories.cdlib.org/are_ucb/916R
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Bibliographic Info

Paper provided by University of California at Berkeley, Department of Agricultural and Resource Economics and Policy in its series CUDARE Working Paper Series with number 916R.

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Length: 35 pages
Date of creation: 2003
Date of revision:
Handle: RePEc:are:cudare:916r

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Related research

Keywords: equilibrium (economics); game theory; information theory; monopolies; price discrimination;

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References

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  1. Carlsson, Hans & van Damme, Eric, 1993. "Global Games and Equilibrium Selection," Econometrica, Econometric Society, vol. 61(5), pages 989-1018, September.
  2. 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.
  3. 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.
  4. Van Cayseele, Patrick, 1991. "Consumer rationing and the posssibility of intertemporal price discrimination," European Economic Review, Elsevier, vol. 35(7), pages 1473-1484, October.
  5. Dudey, Marc, 1996. "Dynamic Monopoly with Nondurable Goods," Journal of Economic Theory, Elsevier, vol. 70(2), pages 470-488, August.
  6. 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.
  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. 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.
  3. Karp, Larry, 2008. "Correct (and misleading) arguments for using market based pollution control policies," CUDARE Working Paper Series 1063, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
  4. Liang, Xiaoying & Xie, Lei & Yan, Houmin, 2012. "Bertrand competition with intermediation," Economics Letters, Elsevier, vol. 116(1), pages 112-114.
  5. 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.
  6. Craig Depken, 2007. "Another look at anti-scalping laws: Theory and evidence," Public Choice, Springer, vol. 130(1), pages 55-77, January.

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