search query: @author Besanko, D. / total: 15
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| Author: | Besanko, D. Winston, W. L. |
| Title: | Optimal price skimming by a monopolist facing rational consumers. |
| Journal: | Management Science
1990 : MAY, VOL. 36:5, p. 555-567 |
| Index terms: | PRICE POLICY MONOPOLIES GAME THEORY DYNAMIC PROGRAMMING |
| Language: | eng |
| Abstract: | The intertemporal pricing problem for a monopolist marketing a new product is considered. A game theoretical model of intertemporal pricing is presented. The model involves a monopolistic seller facing a market of consumers with heterogeneous valuations for a new product. Consumers have rational expectations, so in equilibrium consumers correctly predict the pricing policy to be followed by the monopolist. The monopolist is unable to make binding commitments about future prices. |
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