affects the optimal price/price markup or optimal quantity. A monopoly example is used to show that seemingly strong … uncertainty types can lead to quite special results. Monopoly examples of the newsboy problem type are further used to show that …

such as inelastic pricing, why the firm takes on more risk as gains become less likely, and asymmetric responses to demand …

such as inelastic pricing, why the firm takes on more risk as gains become less likely, and asymmetric responses to demand …

likely to occur when this distribution is rather flat. In particular, monopoly production results in the oversupply of …

likely to occur when this distribution is rather flat. In particular, monopoly production results in the oversupply of …

literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially … fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over …

experiment with skill-based payoffs by systematically varying two key elements of the market environment: demand risk and … expected market size. Results show that people's reactions to demand risk depend on the market size: in small markets people … inefficiencies in both cases: demand risk significantly amplifies overentry in small markets and underentry in large markets. Skill …

monopolist first designs a product (positions herself) and then chooses the price. The standard monopoly model is nested as a …