| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12907 |
| DP12907 How Hard Is It to Maximise Profit? Evidence from a 19-th Century Italian State Monopoly | |
| Carlo Ciccarelli; Gianni De Fraja | |
| 发表日期 | 2018-05-02 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | In this paper we study the ability of the 19-th century Italian government to choose profit maximising prices for a multiproduct monopolist. We use very detailed historical data on the tobacco consumption in 62 Italian provinces from 1871 to 1888 to estimate a differentiated product demand system. The demand conditions and the legal environment of the period made this market as close to a textbook monopoly as is practically possible. The government's stated aim for this industry was profit maximisation: since at the time tobacco revenues constituted between 10 and 15 percent of the revenues for the cash-strapped government, the stated aim was very likely the true one. Cost data for the nine products suggest that the government was not wide off the mark: the tobacco prices were ``not far'' from those dictated by the standard monopoly formulae for profit maximisation with interdependent demand functions. |
| 主题 | Economic History ; Industrial Organization |
| 关键词 | Demand for tobacco Multiproduct monopoly profit maximisation 19-th century italy Qai demand system Habit formation |
| URL | https://cepr.org/publications/dp12907 |
| 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/541718 |
| 推荐引用方式 GB/T 7714 | Carlo Ciccarelli,Gianni De Fraja. DP12907 How Hard Is It to Maximise Profit? Evidence from a 19-th Century Italian State Monopoly. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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