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Product heterogeneity is introduced into the context of spatial pri ce discrimination. Many of the strong properties of the standard homogeneous goods case (which attains as a limit case here) are shown to no longer be valid. In particular, the social optimum is no longer sustainable as a market...
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This paper considers a generalization of the Hotelling model of spatial competition. It is shown that a pure strategy perfect equilibrium in the two-stage location-price game exists only under very stringent conditions. These conditions are in fact the conditions for profit to be concave in...
Persistent link: https://www.econbiz.de/10005195455
Consumer arbitrage affects international pricing in several ways. If all consumers face the same arbitrage costs, a monopolists profit increases with arbitrage costs, and world welfare declines with them (if output does not rise). If arbitrage costs differ across consumers, a monopolist may sell...
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