, which are charged according to the time spent in a museum. This scheme has a number of notable advantages, in particular the …

passengers exhibit a higher time valuation, and a less price-elastic demand, than leisure passengers. Our main result is the … identification of the time-valuation effect of price discrimination, which can work in the opposite direction as the well …-known output effect on welfare. This time-valuation effect clearly explains why discriminating prices can improve welfare even when …

attributes, influence their time-on-market (TOM). The results with the full sample show that only dummy variables depicting years … significant impacts on TOM, yet their respective impacts change over time. Specifically, the effectiveness of overpricing in …

. The imperfect information is endogenized using a variant of the theory of quot;rational inattentionquot; proposed by Sims …