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This article examines intertemporal price variations to provide a theoretical explanation for them. When firms have only incomplete information about consumers' reservation prices for the commodity, we contend that some intertemporal price variations can result from attempts by firms to...
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A generating process of Jewitt's location independent risk concept is derived in terms of left stretches based on single crossings between distributions. For concave nondecreasing utility functions this stochastic order preserves monotonicity between risk premium and the Arrow-Pratt measure of...
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