Price Discrimination As Portfolio Diversification
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.
Volume (Year): 4 (2008)
Issue (Month): 5 ()
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- Steven Salop, 1977. "The Noisy Monopolist: Imperfect Information, Price Dispersion and Price Discrimination," Review of Economic Studies, Oxford University Press, vol. 44(3), pages 393-406.
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Review of Economic Studies,
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- Nancy L. Stokey, 1979. "Intertemporal Price Discrimination," The Quarterly Journal of Economics, Oxford University Press, vol. 93(3), pages 355-371. Full references (including those not matched with items on IDEAS)
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