demand. It looks at a market with social effects where consumers want to do what is popular, to buy what they believe others … certain naive consumers into believing that demand is greater than it actually is. This will in turn increase the willingness … demand is lower than expected, even when the number of naive consumers is arbitrarily small. …

This paper analyzes third-degree price discrimination of a monopoly airline in the presence of congestion externality … passengers exhibit a higher time valuation, and a less price-elastic demand, than leisure passengers. Our main result is the …