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Chapter 13. The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry
Courty, Pascal; Pagliero, Mario - In: Handbook of the economics of art and culture : volume 2, (pp. 299-356). 2014
We document the existence of pricing styles in the concert industry. Artists differ in the extent to which they rely on second- and third-degree price discrimination, and in the probability of their concerts selling out. Most strikingly, artists who use multiple seating categories are more...
Persistent link: https://www.econbiz.de/10014025401
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An Equilibrium Theory of Rationing
Gilbert, Richard; Klemperer, Paul - C.E.P.R. Discussion Papers - 1993
Setting a price that results in rationing may be optimal for a seller whose customers must make a specific investment … to be able to use his product. Although rationing results in <MI>ex post<D> inefficiency, the resulting distribution of … higher profits than with market-clearing prices. Committing to a single price, and rationing if there is excess demand, can …
Persistent link: https://www.econbiz.de/10005788950
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Price Controls and Consumer Surplus
Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 2009
The condition for when a price control increases consumer welfare in perfect competition is tighter than often realised. When demand is linear, a small restriction on price only increases consumer surplus if the elasticity of demand exceeds the elasticity of supply; with log-linear or...
Persistent link: https://www.econbiz.de/10004976788
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Market and non-market mechanisms for the optimal allocation of scarce resources
Condorelli, Daniele - In: Games and Economic Behavior 82 (2013) C, pp. 582-591
A number of identical objects is allocated to a set of privately informed agents. Agents have linear utility in money. The designer wants to assign objects to agents that possess specific traits, but the allocation can only be conditioned on the willingness to pay and on observable...
Persistent link: https://www.econbiz.de/10010719488
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The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry
Courty, Pascal; Pagliero, Mario - C.E.P.R. Discussion Papers - 2012
We document the existence of pricing styles in the concert industry. Artists differ in the extent to which they rely on second- and third-degree price discrimination and in how likely they are to sell out concerts. Most strikingly, artists who use multiple seating categories are more likely to...
Persistent link: https://www.econbiz.de/10011084535
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Voluntary versus enforced team effort
Keser, Claudia; Montmarquette, Claude - In: Games 2 (2011) 3, pp. 277-301
We present a model where each of two players chooses between remuneration based on either private or team effort. Although at least one of the players has the equilibrium strategy to choose private remuneration, we frequently observe both players to choose team remuneration in a series of...
Persistent link: https://www.econbiz.de/10009752421
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Resolving persistent uncertainty by self-organized consensus to mitigate market bubbles
Sornette, Didier; Andraszewicz, Sandra; Murphy, Ryan O.; … - 2016
We propose a new paradigm to study coordination in complex social systems, such as financial markets, that accounts for fundamental uncertainty. This new context has features from prediction markets that have been shown previously to mitigate price bubbles in classical asset market experiments....
Persistent link: https://www.econbiz.de/10011514493
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Chapter 35 A Survey of Peace Economics
Anderton, Charles H.; Carter, John R. - In: Handbook of defense economics : volume 2, Defense in a …, (pp. 1211-1258). 2007
Peace economics can be defined as the use of economics to understand the causes and effects of violent conflict in the international system and the ways that conflict can be avoided, managed, or resolved. This chapter surveys major subject areas of peace economics, highlighting seminal as well...
Persistent link: https://www.econbiz.de/10014024394
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Inferring discount rates from time-preference experiments
Duquette, Eric; Higgins, Nathaniel; Horowitz, John - In: Economics Letters 123 (2014) 2, pp. 212-215
We observe that identification of the discount rate from experimental data requires an assumption about the consumption period, the length of time over which a payment will be turned into utility-providing consumption. We show that the optimal consumption period is substantially longer than...
Persistent link: https://www.econbiz.de/10010906364
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Preferences and beliefs in a sequential social dilemma: a within-subjects analysis
Blanco, Mariana; Engelmann, Dirk; Koch, Alexander K.; … - In: Games and Economic Behavior 87 (2014) C, pp. 122-135
In empirical analyses of games, preferences and beliefs are typically treated as independent. However, if beliefs and preferences interact, this may have implications for the interpretation of observed behavior. Our sequential social dilemma experiment allows us to separate different interaction...
Persistent link: https://www.econbiz.de/10010931200