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Price Discrimination As Portfolio Diversification

  • Parikshit Ghosh

    ()

    (Indian Statistical Institute)

A seller seeking to sell an indivisible object can post (possibly different) prices to each of n buyers. Buyers' valuations are private information and drawn independently from the same distribution. If the seller can choose who to sell to in the event there are several willing buyers, her optimal strategy is to post different prices to different buyers. For some distributions, price discrimination may be profitable even if excess demand must be resolved through a uniform lottery.

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Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 4 (2008)
Issue (Month): 5 ()
Pages: 1-9

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Handle: RePEc:ebl:ecbull:eb-08d40018
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  1. Eric Maskin & John Riley, 1984. "Monopoly with Incomplete Information," RAND Journal of Economics, The RAND Corporation, vol. 15(2), pages 171-196, Summer.
  2. Adams, William James & Yellen, Janet L, 1976. "Commodity Bundling and the Burden of Monopoly," The Quarterly Journal of Economics, MIT Press, vol. 90(3), pages 475-98, August.
  3. Burdett, Kenneth & Judd, Kenneth L, 1983. "Equilibrium Price Dispersion," Econometrica, Econometric Society, vol. 51(4), pages 955-69, July.
  4. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, June.
  5. Salop, Steven, 1977. "The Noisy Monopolist: Imperfect Information, Price Dispersion and Price Discrimination," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 393-406, October.
  6. Stokey, Nancy L, 1979. "Intertemporal Price Discrimination," The Quarterly Journal of Economics, MIT Press, vol. 93(3), pages 355-71, August.
  7. Salop, Steven & Stiglitz, Joseph E, 1977. "Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 493-510, October.
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