When Promoters Like Scalpers
نویسندگان
چکیده
If a monopoly supplies a perishable good, such as tickets to a performance, and is unable to price discriminate within a period, the monopoly may benefit from the potential entry of resellers. If the monopoly attempts to intertemporally price discriminate, the equilibrium in the game among buyers is indeterminate when the resellers are not allowed to enter, and the monopoly’s problem is not well defined. An arbitrarily small amount of heterogeneity of information among the buyers leads to a unique equilibrium. We show how the potential entry of resellers alters this equilibrium. JEL classification numbers: L12, D42, D45, D82 keywords: intertemporal price discrimination, scalpers, coordination game, common knowledge, global games “The moment a performance begins, that seat is dead. ... It’s like fruit. Its perishable.” (Jeffrey Seller, producer of Rent. New York Times, July 20, 2003.)
منابع مشابه
(Appendix to: When Promoters Like Scalpers) Global strategic complementarity in a global games setting
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