Price Floors And Quality Choice
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Price Floors And Quality Choice
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Author : Volodymyr Bilotkach
language : en
Publisher:
Release Date : 2014
Price Floors And Quality Choice written by Volodymyr Bilotkach 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.
This paper studies effects of price floors in a simple model of vertical product differentiation. We find that even non-binding price floor (i.e., minimum price set below the lowest Nash equilibrium price in the baseline model) can increase quality on the market, if the cost of quality is sufficiently low. Where a binding price floor does not increase the equilibrium quality, it makes consumers worse off. There is also a possibility of over-investment into quality as a result of the binding minimum price.
Price Floor
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Author : Fouad Sabry
language : en
Publisher: One Billion Knowledgeable
Release Date : 2024-04-07
Price Floor written by Fouad Sabry and has been published by One Billion Knowledgeable this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-07 with Business & Economics categories.
What is Price Floor A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service. It is one type of price support; other types include supply regulation and guarantee government purchase price. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called the "market price", is the price where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change, often described as the point at which quantity demanded and quantity supplied are equal. Governments use price floors to keep certain prices from going too low. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Price floor Chapter 2: Microeconomics Chapter 3: Minimum wage Chapter 4: Supply and demand Chapter 5: Deadweight loss Chapter 6: Economic surplus Chapter 7: Industrial policy Chapter 8: Price discrimination Chapter 9: Elasticity (economics) Chapter 10: Pigouvian tax Chapter 11: Market clearing Chapter 12: Price controls Chapter 13: Price ceiling Chapter 14: Government failure Chapter 15: Price support Chapter 16: Tax incidence Chapter 17: Market distortion Chapter 18: Profit (economics) Chapter 19: Labour economics Chapter 20: Excess supply Chapter 21: Infrastructure-based development (II) Answering the public top questions about price floor. (III) Real world examples for the usage of price floor in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Price Floor.
Optimal Pricing And Quality Choice When Investment In Quality Is Irreversible
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Author : Enrico Pennings
language : en
Publisher:
Release Date : 2005
Optimal Pricing And Quality Choice When Investment In Quality Is Irreversible written by Enrico Pennings and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
This paper examines the price and quality choice of a single product, risk-neutral monopolist who can delay irreversible investments required for market entry. It is shown that the price and quality she chooses at entry increase with uncertainty about the size of future demand. In a Stackelberg leader-follower game, the leader and follower pre-commit immediately up to a certain level of uncertainty. In this case the leader produces the higher quality good. When uncertainty is higher than this threshold, the follower will wait and enter the market later with a higher quality good.
Price Floors Production Ceilings And The Political Choice Between Protection Structures
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Author : William H. Kaempfer
language : en
Publisher:
Release Date : 1986*
Price Floors Production Ceilings And The Political Choice Between Protection Structures written by William H. Kaempfer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986* with categories.
Price Management
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Author : Hermann Simon
language : en
Publisher: North-Holland
Release Date : 1989
Price Management written by Hermann Simon and has been published by North-Holland this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.
This book is a completely updated translation of the German standard work "Preismanagement", a volume which was quoted in the International Journal of Research in Marketing as "a pioneering work in pricing" and was rated highest among eight international pricing books by a comparative survey in Die Betriebswirtschaft. An English language edition was thus more than warranted as underlined by some prepublication comments: "... The major contribution of the book is the fact that it introduces the English speaking reader to research on pricing from the German literature. It is for that reason alone that the book will appeal to many academicians in the USA and in other non-German speaking countries.............the book represents, in my opinion, the very best review of empirial work in the pricing area...............I also anticipate the book to be widely read by managers since pricing has become of the utmost concern to them. It provides them with a very useful conceptual framework and it also gives them useful advice on relevant topics such as pricing in inflationary times, the impact of taxation on pricing, and pricing under uncertainty." G. Assmus, The Amos Tuck School of Business Administration, Dartmouth College, Hanover, USA. "The book should become the text of choice at the best institutions." R. Schmalensee, Massachusetts Institute of Technology, Cambridge Institute of Technology, USA. Price Management attempts to bridge the gap between the theory and the practice of pricing. Emphasis is placed upon the problems of applying theoretical structures and detailed recommendations are given about when and how certain techniques should - and should not - be used. Particular attention is given to pricing strategy over the product life cycle and under changing competitive conditions. Both academics and professionals will find this book of value. The book is a 'must' for any business, management and economics library.
Flaws And Ceilings
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Author : Christopher Coyne
language : en
Publisher: London Publishing Partnership
Release Date : 2015-03-27
Flaws And Ceilings written by Christopher Coyne and has been published by London Publishing Partnership this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-27 with Business & Economics categories.
Price controls across many sectors are currently being hotly debated. New controls in the housing market, more onerous minimum wages, minimum prices for alcohol, and freezes on energy prices are very high up the agenda of most politicians at the moment. Even without any further controls, wages, university fees, railway fares and many financial products already have their prices at least partly determined by politicians rather than by supply and demand in the market. Indeed, barely a sector of the UK economy is unaffected in one way or another by government controls on prices. This book demonstrates why economists do not like price controls and shows why they are widely regarded as being amongst the most damaging political interventions in markets. The authors analyse, in a very readable fashion, the damage they cause. Crucially, the authors also explain why, despite universal criticism from economists, price controls are so popular amongst politicians.
Price Management
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Author : Hermann Simon
language : en
Publisher: Springer
Release Date : 2018-12-11
Price Management written by Hermann Simon and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-11 with Business & Economics categories.
In this book, the world’s foremost experts on pricing integrate theoretical rigor and practical application to present a comprehensive resource that covers all areas of the field. This volume brings together quantitative and qualitative approaches and highlights the most current innovations in theory and practice. Going beyond the traditional constraints of “price theory” and “price policy,” the authors coined the term “price management” to represent a holistic approach to pricing strategy and tactical implementation. They remind us that the Ancient Romans used one word, pretium, to mean both price and value. This is the fundamental philosophy that drives successful price management where producer and customer meet. Featuring dozens of examples and case studies drawn from their extensive research, consulting, and teaching around the world, Simon and Fassnacht cover all aspects of pricing following the price management process with its four phases: strategy, analysis, decision, and implementation. Thereby, the authors take into account the nuances across industry sectors, including consumer goods, industrial products, services, and trade/distribution. In particular, they address the implications of technological advancements, such as the Internet and new measurement and sensor technologies that have led to a wealth of price management innovations, such as flat rates, freemium, pay-per-use, or pay-what-you-want. They also address the emergence of new price metrics, Big Data applications, two-sided price systems, negative prices, and the sharing economy, as well as emerging payment systems such as bitcoin. The result is a “bible” for leaders who recognize that price is not only a means to drive profit in the short term, but a tool to generate sustained growth in shareholder value over the longer term, and a primer for researchers, instructors, and students alike. Praise for Price Management “This book is truly state of the art and the most comprehensive work in price management.” - Prof. Philip Kotler, Kellogg School of Management, Northwestern University “This very important book builds an outstanding bridge between science and practice.“ - Kasper Rorsted, CEO, Adidas “This book provides practical guidelines on value creation, communication and management, which is an imperative for businesses to survive in the coming era of uncertainty.” - Dr. Chang-Gyu Hwang, Chairman and CEO, KT Corporation (Korea Telecom)
Quality And Location Choices Under Price Regulation
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Author : Kurt Richard Brekke
language : en
Publisher:
Release Date : 2008
Quality And Location Choices Under Price Regulation written by Kurt Richard Brekke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
In a model of spatial competition, we analyze the equilibrium outcomes in markets where the product price is exogenous. Using an extended version of the Hotelling model, we assume that firms choose their locations and the quality of the product they supply. We derive the optimal price set by a welfarist regulator. If the regulator can commit to a price prior to the choice of locations, the optimal (second-best) price causes overinvestment in quality and an insufficient degree of horizontal differentiation (compared with the first-best solution) if the transportation cost of consumers is sufficiently high. Under partial commitment, where the regulator is not able to commit prior to location choices, the optimal price induces first-best quality, but horizontal differentiation is inefficiently high.
Price Regulation Quality Competition And Location Choice With Costly Relocation
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Author : Burkhard Hehenkamp
language : en
Publisher:
Release Date : 2021
Price Regulation Quality Competition And Location Choice With Costly Relocation written by Burkhard Hehenkamp and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Price And Quality Competition Under Adverse Selection
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Author : Gary Biglaiser
language : en
Publisher:
Release Date : 2003
Price And Quality Competition Under Adverse Selection written by Gary Biglaiser and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Firms compete with prices and qualities in markets where consumers have heterogeneous preferences and cost characteristics. Consumers demand two goods, which can be supplied jointly or separately by firms. We consider two strategy regimes for firms: uniform price-quality pairs, and screening price-quality menus. For each regime, we compare the equilibria under integration (each firm supplying both goods) and separation (each firm supplying one good). Integrating and separating markets change quality, efficiency, and welfare. The theory illustrates phenomena such as the carveout of mental health and substance abuse coverage from general health insurance, and creaming for low-cost students in locales with school choices.