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Consumer Inventory, Price Break, and Price Dispersion

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  • Pilky Hong

    (National Computerization Agency)

Abstract

This study offers a dynamic framework which formulates stockpiling behavior of consumers as a fundamental market state. Mixed pricing strategies are endogen-ously derived from the model as well as two extreme monopoly and marginal pricing as limiting cases. This model enables us to study both spatial and temporal price be-havior using a simple dynamic programming method. The movement of price and sales can be examined at the level of the industry as well as the individual firm.

Suggested Citation

  • Pilky Hong, 1996. "Consumer Inventory, Price Break, and Price Dispersion," Korean Economic Review, Korean Economic Association, vol. 12(2), pages 29-45.
    • Handle: RePEc:kea:keappr:ker-199612-12-2-02
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