کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7384190 | 1480574 | 2016 | 47 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Effects of increased variety on demand, pricing, and welfare
ترجمه فارسی عنوان
تأثیر انواع تنوع در تقاضا، قیمت گذاری و رفاه
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کلمات کلیدی
انواع، خط تولید، مازاد مصرف کننده، رفاه، تقاضا سفارش آمار،
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
We use order statistics to analytically derive demand functions when consumers choose from among the varieties of two brands-such as Coke and Pepsi-and an outside good. Soft-drinks have no price variability across varieties within a brand, so traditional demand systems (e.g., mixed logit) are not identified. In contrast, our demand system is identified and can be estimated using a nonlinear instrumental variable estimator. Our demand functions are higher-order polynomials, where the polynomial order is increasing in variety. Because these demand curves have convex and concave sections around an inflection point, firms are more likely to respond and make large price adjustments to increases in cost than to comparable decreases in costs. We compare the profit-maximizing number of varieties within a grocery store to the socially optimal number and find that consumer surplus and welfare would increase with more variety.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Research in Economics - Volume 70, Issue 4, December 2016, Pages 569-587
Journal: Research in Economics - Volume 70, Issue 4, December 2016, Pages 569-587
نویسندگان
William C. Horrace, Rui Huang, Jeffrey M. Perloff,