| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2679 |
| DP2679 Joint Ownership and Incomplete Contracts: The Case of Perfectly Substitutable Investments | |
| Stephanie Rosenkranz; Patrick W. Schmitz | |
| 发表日期 | 2001-02-27 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | When a monopolist asks consumers to choose a particular nonlinear tariff option, consumers do not completely know their type. Their valuations of the good and/or optimal quantity purchases are only fully realized after the optional tariff has been subscribed. In order to characterize the menu of optimal nonlinear tariffs when consumers? demands are stochastic, I show that the increasing hazard rate property of distributions is preserved under convolution. This result, together with very weak assumptions on demand (common to standard nonlinear pricing), ensures that the continuum of optional nonlinear tariffs is characterized by quantity discounts. I test nonparametrically the theoretical prerequisites of the model using data directly linked to consumer types from the 1986 Kentucky telephone tariff experiment. I show that the distribution of actual calls second order stochastically dominates the distribution of expected calls, which fully supports the suggested type-varying theoretical model. Finally, I analyse possible welfare effects of the introduction of optional tariffs and their relative expected profitability using the empirical distribution of consumer types in two local exchanges with differentiated calling patterns. The evidence suggests that a menu of optional two-part tariffs dominates any other pricing strategy. |
| 主题 | Industrial Organization |
| 关键词 | Optional nonlinear pricing Quantity discounts Convolution distributions Increasing hazard rate Stochastic dominance |
| URL | https://cepr.org/publications/dp2679 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531745 |
| 推荐引用方式 GB/T 7714 | Stephanie Rosenkranz,Patrick W. Schmitz. DP2679 Joint Ownership and Incomplete Contracts: The Case of Perfectly Substitutable Investments. 2001. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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