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| Author: | Dudey, M. |
| Title: | Dynamic monopoly with nondurable goods |
| Journal: | Journal of Economic Theory
1996 : AUG, VOL. 70:2, p. 470-488 |
| Index terms: | MONOPOLY NON-DURABLE GOODS PRICE LEVEL |
| Language: | eng |
| Abstract: | A nondurable good monopolist who posts a single price will generally achieve an inefficient outcome. But is it possible that the monopolist would achieve efficiency by repeatedly posting prices before delivery? If buyers recognize the effect of current purchases on future prices, then, under complementary ideal conditions, the answer is yes. On the other hand, traditional concerns about monopoly are viable if the seller bears a small cost per buyer of market reopening. |
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