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Fixed priced plus rationing: An experiment

Grimm, Veronika; Ponti, Giovanni; Kovarik, Jaromir - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2006

This paper theoretically and experimentally explores a fixed price mechanism inwhich, if aggregate demand exceeds supply, bidders are proportionally rationed. Ifdemand is uncertain, in equilibrium bidders overstate their true demand in order toalleviate the effects of being rationed. This effect...

Persistent link: https://www.econbiz.de/10005731244

Market Failures in Real-Time Metering: A Theoretical Look

Brennan, Timothy - 2002

Restructuring the electricity market may secure efficiencies by moving away from cost-of-service regulation, with typically (but not necessarily) time-invariant prices, and allowing prices to reflect how costs change. Charging "real time" prices requires that electricity use be measured...

Persistent link: https://www.econbiz.de/10005442465

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

Unpriced Quality

Courty, Pascal - Department of Economics, European University Institute - 2009

A monopolist deliberately charges the same price for differentiated products when high quality products are more likely to be allocated to low type consumers under uniform pricing. The argument can explain the use of ‘unpriced quality’ for concert tickets, sport events, and in many other...

Persistent link: https://www.econbiz.de/10004980233

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

Regulated Prices, Rent-Seeking, and Consumer Surplus

Bulow, Jeremy; Klemperer, Paul - Economics Group, Nuffield College, University of Oxford - 2012

Price controls lead to misallocation of goods and encourage rent-seeking. The misallocation effect alone ensures that a price control always reduces consumer surplus in an otherwise-competitive market with convex demand if supply is more elastic than demand; or with log-convex demand (e.g.,...

Persistent link: https://www.econbiz.de/10010823432

Measuring inflation under rationing: A virtual price approach.

Starzec, Christophe; Gardes, François - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014

The presence of rationing or more generally of the situations of constrained demand can make the traditional methods of … market disequilibrium indicators or proxies which take into account rationing and incomplete information. In the second part … rationing in Poland's centrally planned economy with administrated prices in 1965-1980 period. We estimate for this period the …

Persistent link: https://www.econbiz.de/10010735115

Rationing of excessive demand on crowdinvesting-platforms

Mäschle, Oliver - Institut für Volkswirtschaftlehre, Universität Rostock - 2012

rationing of excessive demand is not optimal. It describes the characteristics that rationing of excessive demand has to imply …

Persistent link: https://www.econbiz.de/10010986132

Economia de război: concepte, evoluţie şi instrumente

Alexandru, Georgescu - In: Revista OEconomica (2012) 03

Throughout human history, polities have found it necessary to devote resources towards maintaining security from other polities or to prosecute a war against them. This paper explores the evolution of the war economy, as well as the circumstances which mandated and instruments which allowed the...

Persistent link: https://www.econbiz.de/10010965601

Price Controls and Consumer Surplus

Klemperer, Paul; Bulow, Jeremy - Department of Economics, Oxford University - 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 eleasticity of demand exceeds the elasticity of supply; with log-linear or...

Persistent link: https://www.econbiz.de/10011004158