Essays In Nonlinear Pricing

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Essays In Nonlinear Pricing

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Author : Garrett Patrick Hagemann
language : en
Publisher:
Release Date : 2018

Essays In Nonlinear Pricing written by Garrett Patrick Hagemann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.

This dissertation addresses several open issues in the economics surrounding the use of nonlinear pricing. The first chapter empirically examines the impact of the use of nonlinear pricing by wholesalers. The second chapter evaluates how firm profit depends on the number of prices offered in a nonlinear price schedule. Finally, the third chapter investigates the use of all-unit discounts as a price discrimination instrument. The first chapter exploits a unique data set of price schedules to provide the first empirical estimate of the welfare impact of second degree price discrimination in a market with double marginalization. Theoretical predictions in such a context are ambiguous. Quantity discounts at the wholesale level reduce costs for larger retailers, increasing efficiency. However, quantity discounts raise input costs for smaller retailers, increasing prices consumers may pay. The combined welfare effects on consumers umers depends on how much of input cost discounts are passed through to consumers and the distribution of retailer size. I develop and estimate a model of the New York State retail liquor market where wholesalers offer a multi-part nonlinear tariff for each product. The structural model is then used to estimate the welfare impact of restricting wholesale pricing to be linear. I find that banning quantity discounts reduces total welfare by approximately 14% on average. Consumer surplus and wholesaler profit decline by approximately 26% on average. Average retailer profit increases by a similar magnitude, though effects for a particular retailer are heterogeneous across retailer size. The second chapter examines the shape of observed price schedules more directly. Sellers often offer price schedules with relatively few segments rather than completely nonlinear price schedules which offer a unique price for each unit sold. By not offering a completely nonlinear, sellers are foregoing some additional profit in favor of a simpler pricing strategy. I find that the scale of these foregone profits is relatively small and only loosely related to product characteristics. When considered in percentage terms, foregone profits are very similar across a large number of products. This suggests that simple pricing strategies obtain almost all the profits available and this is a common property of nonlinear pricing strategies. The final chapter compares price discrimination through two different quantity discount mechanisms: all-unit discounts and incremental discounts. All-unit-discounts give consumers a lower marginal price on all units purchased once total purchase size crosses a threshold. Incremental discounts only provide discounts on units above the threshold. Relative to incremental discounts, all-unit-discounts imply higher marginal prices and bunching of purchase sizes in equilibrium. The equilibrium bunching may present a challenge for estimating the model empirically.

Essays On Nonlinear Pricing And Welfare

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Author : Tommy Andersson
language : en
Publisher:
Release Date : 2004

Essays On Nonlinear Pricing And Welfare written by Tommy Andersson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Nonlinear functional analysis categories.

Essays On Nonlinear Pricing Quality Investment And Consumer Search

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Author : Jian Shen
language : en
Publisher:
Release Date : 2014

Essays On Nonlinear Pricing Quality Investment And Consumer Search written by Jian Shen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.

In my dissertation, I study how firms choose their pricing and quality investment in markets with imperfect competition. My dissertation comprises of three chapters. First, I study how firms compete in prices when consumers search sequentially. Second, I study firms' competitive nonlinear pricing strategies. Finally, I study how market structure affects firms' quality investment decisions.

Two Essays On Non Linear Pricing And Equity With An Application To0the Control Of A Natural Monopoly

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Author :
language : en
Publisher:
Release Date : 2002

Two Essays On Non Linear Pricing And Equity With An Application To0the Control Of A Natural Monopoly written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.

Essays On Pricing Of Information Goods And Services

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Author : Atanu Lahiri
language : en
Publisher:
Release Date : 2010

Essays On Pricing Of Information Goods And Services written by Atanu Lahiri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Information services categories.

"This dissertation consists of three essays that examine, in three specific contexts, issues related to pricing of information goods and services. As the ability to measure technology resource usage gets easier with increased connectivity, the question whether a technology resource should be priced by the amount of the resource used or by the particular application of the resource has become an important question. In the first essay, this question is examined in the context of pricing of wireless services: should the price be based on the application, e.g., voice, multimedia messages, short messages, or should it be based on the traffic generated? Contrary to the prevailing opinion that hold that consumers prefer pricing based on traffic alone and carriers prefer application-based discrimination, I show that in some instances consumers will prefer application-based discrimination, and that in some carriers will not prefer such discrimination. The first essay uses a deterministic model to analyze the impact of application-based pricing. However, deterministic models do not explain some other important pricing issues such as those related to the commonly seen "Fixed Up To" (FUT) tariff. FUT tariffs are made up of three parts: a monthly subscription fee, an included allowance (also called the usage-limit), and an over-limit rate that applies to consumptions in excess of the usage-limit. Using a stochastic model, I develop a closed-form expression for the utility offered by a FUT pricing plan. I then examine the monopolists' tariff design problem in which heterogeneous consumers are offered a menu of FUT plans. I examine both forms of consumer heterogeneity, the heterogeneity in the frequency of use and that in the value obtained per use. I find that FUT tariffs lead to higher profits than do other two-part or nonlinear tariffs when consumers are heterogeneous. I also show that, contrary to the findings in the literature on nonlinear pricing, there are situations in which it is optimal for the carrier to serve both "high" and "low" type consumers regardless of their relative sizes. While the first two essays examine pricing of information services, the final essay focuses on pricing of information goods in the context of software security and patching. Software manufacturers provide "patches" to fix security vulnerabilities in their products and to distribute functionality enhancements. Moreover, these days software manufacturers have the ability to restrict the distribution of their patches to legal users only -- by doing do so they can reduce the incentive to pirate. However, not distributing security patches to pirates or illegal users leads to significant negative network effects, which lowers the legal users' willingness-to-pay for the product. Likewise, not only distributing functionality patches lowers the value of the pirated product but it also leads to a reduced user base and a lower positive network effect. In this essay I analyze these trade-offs and explain how different patch distribution strategies impact the equilibrium demand and profit of a monopolist. I explain how the consumer heterogeneity in piracy costs impacts the relative attractiveness of different strategies. Further, contrary to the prevailing wisdom on positive network effects, I show that supporting pirates with patches is not the best option when the positive network effect is very strong. I also explore the possibility that a software manufacturer may make certain patches available for a price, and show that such patch-pricing is effective only if consumers are heterogeneous with regard to their piracy costs."--Leaves v-vi.

Essays On The Interactions Of Non Linear Price Structures

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Author : Mario Epelbaum
language : en
Publisher:
Release Date : 1993

Essays On The Interactions Of Non Linear Price Structures written by Mario Epelbaum and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.

Nonlinear Economic Dynamics And Financial Modelling

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Author : Roberto Dieci
language : en
Publisher: Springer
Release Date : 2014-07-26

Nonlinear Economic Dynamics And Financial Modelling written by Roberto Dieci and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-26 with Business & Economics categories.

This book reflects the state of the art on nonlinear economic dynamics, financial market modelling and quantitative finance. It contains eighteen papers with topics ranging from disequilibrium macroeconomics, monetary dynamics, monopoly, financial market and limit order market models with boundedly rational heterogeneous agents to estimation, time series modelling and empirical analysis and from risk management of interest-rate products, futures price volatility and American option pricing with stochastic volatility to evaluation of risk and derivatives of electricity market. The book illustrates some of the most recent research tools in these areas and will be of interest to economists working in economic dynamics and financial market modelling, to mathematicians who are interested in applying complexity theory to economics and finance and to market practitioners and researchers in quantitative finance interested in limit order, futures and electricity market modelling, derivative pricing and risk management.

Essays In Nonlinear Economic Dynamics

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Author : Richard Murphey Goodwin
language : en
Publisher: Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Release Date : 1989

Essays In Nonlinear Economic Dynamics written by Richard Murphey Goodwin and has been published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.

Since the publication of Keynes' General Theory there has been a steady increase in interest in dynamics. With it has only recently come the realization that linear dynamics are very restrictive. This book is a collection of essays on nonlinear economic dynamics, mostly written very recently. They attempt to combine in one integral whole the analysis of cycles and growth, neither of which ever exists in the absence of the other. The essays cover cyclical and unsteady growth, multisectoral models, discrete time and irregularity, Schumpeter's vision and personal statements.

Essays In Nonlinear Time Series Econometrics

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Author : Niels Haldrup
language : en
Publisher: OUP Oxford
Release Date : 2014-06-26

Essays In Nonlinear Time Series Econometrics written by Niels Haldrup and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-26 with Business & Economics categories.

This edited collection concerns nonlinear economic relations that involve time. It is divided into four broad themes that all reflect the work and methodology of Professor Timo Teräsvirta, one of the leading scholars in the field of nonlinear time series econometrics. The themes are: Testing for linearity and functional form, specification testing and estimation of nonlinear time series models in the form of smooth transition models, model selection and econometric methodology, and finally applications within the area of financial econometrics. All these research fields include contributions that represent state of the art in econometrics such as testing for neglected nonlinearity in neural network models, time-varying GARCH and smooth transition models, STAR models and common factors in volatility modeling, semi-automatic general to specific model selection for nonlinear dynamic models, high-dimensional data analysis for parametric and semi-parametric regression models with dependent data, commodity price modeling, financial analysts earnings forecasts based on asymmetric loss function, local Gaussian correlation and dependence for asymmetric return dependence, and the use of bootstrap aggregation to improve forecast accuracy. Each chapter represents original scholarly work, and reflects the intellectual impact that Timo Teräsvirta has had and will continue to have, on the profession.

Self Regulation Productivity And Non Linear Pricing

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Author : Angelo M. Zago
language : en
Publisher:
Release Date : 2006

Self Regulation Productivity And Non Linear Pricing written by Angelo M. Zago and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.