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Bulow, Jeremy; Klemperer, Paul - Economics Group, Nuffield College, University of Oxford - 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/10008469681

Price Controls and Consumer Surplus

Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 2009

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

Buying Frenzies

Courty, Pascal - Department of Economics, European University Institute - 2005

equilibrium and under which rationing occurs in equilibrium …

Persistent link: https://www.econbiz.de/10005076086

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

Rent-Control and Prices of Owner Occupied Housing

Häckner, Jonas; Nyberg, Sten - Nationalekonomiska institutionen, Stockholms Universitet - 1998

We examine the relation between rent control and prices of owner occupied housing in the presence of different qualities of housing. While a rent ceiling and the price of condominiums are substitutes if housing is undifferentiated, it is shown that this is not necessarily the case when housing...

Persistent link: https://www.econbiz.de/10005419569

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 as a Signal

Kim, Jeong-Yoo - In: International Journal of Business and Economics 1 (2002) 2, pp. 115-122

nature, either high or low. I characterize a rationing equilibrium at which the high-type monopolist produces only one unit …

Persistent link: https://www.econbiz.de/10010600613

Market and non-market mechanisms for the optimal allocation of scarce resources

Condorelli, Daniele - In: Games and Economic Behavior 82 (2013) C, pp. 582-591

A number of identical objects is allocated to a set of privately informed agents. Agents have linear utility in money. The designer wants to assign objects to agents that possess specific traits, but the allocation can only be conditioned on the willingness to pay and on observable...

Persistent link: https://www.econbiz.de/10010719488

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