A firm must decide whether to launch a new product. A launch implies considerable fixed costs, so the firm would like to assess downstream demand before it decides. We study under which conditions a potential buyer would be willing to reveal his willingness to pay under different pricing...

THE CONCEPT OF AN INDUSTRY IS IMPORTANT FOR ECONOMIC ANALYSIS. HERE, WE DEFINE SUGAR INDUSTRY AS GROUP OF FIRMS PRODUCING SUGAR THAT ARE CLOSE SUBSTITUTES BY THE USE OF IDENTICAL PRODUCTION PROCESSES AND RAW MATERIALS. HOWEVER, SUGAR INDUSTRY IN NIGERIA WAS STILL IN ITS PIONEERING STAGE. THIS...