This paper examines price setting from the perspective of a firm maximizing discounted present profits dynamically over time subject to a constraint governing the growth of sales. Thus, unlike the static case, the long-run demand curve is only approached over time. Two separate issues are...

The traditional problem of demand is examined from the perspective of club membership. This comes in discrete amounts and cannot be handled by the standard approach that assumes that the quantity bought is infinitely adjustable. The analysis develops a modified utility function approach. In time...