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Limit price

About: Limit price is a research topic. Over the lifetime, 4865 publications have been published within this topic receiving 148546 citations.


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Journal ArticleDOI
TL;DR: This article revisited third-degree price discrimination when input buyers serve multiple product markets, and showed that price discrimination can provide welfare gains by shifting output to less competitive markets when lower demand markets also have less competition.
Abstract: This paper revisits third-degree price discrimination when input buyers serve multiple product markets. Such circumstances are prevalent since buyers often use the same input to produce different outputs, and even homogenous outputs are routinely sold through different locations. The typical view is that price discrimination stifles efficiency (and welfare) by resulting in price concessions to less efficient firms. When buyers serve multiple markets, price discrimination leads to price breaks for firms in markets with lower demand. When lower demand markets also have less competition, price discrimination can provide welfare gains by shifting output to less competitive markets.

47 citations

Journal ArticleDOI
TL;DR: In this article, the authors study a new data set of US sports card conventions in order to evaluate the pricing theory of two-sided markets and find that consumer pricing decreases with competition at any reasonable distance, but pricing to dealers is insensitive to competition.
Abstract: We study a new data set of US sports card conventions in order to evaluate the pricing theory of two-sided markets. Conventions are two-sided because organizers must set fees to attract both consumers and dealers. We have detailed information on consumer price, dealer price and, since most conventions are local, the market structure for conventions. We present several findings: first, consumer pricing decreases with competition at any reasonable distance, but pricing to dealers is insensitive to competition and in longer distances even increases with competition. Second, when consumer price is zero (and thus constrained), dealer price decreases more strongly with competition. These results are compatible with existing models of two-sided markets, but are difficult to explain without such models.

47 citations

Journal ArticleDOI
TL;DR: In this paper, the authors make a case for precision in pricing to enhance profitability, arguing that consumers vary in their preferences, motivations, and propensity to spend, and they assign varying degrees of emphasis regarding price upon their purchase decisions.

47 citations

Journal ArticleDOI
TL;DR: In this paper, the authors used a database of 35 million transactions in the six largest Australian cities to demonstrate that compositional shifts between higher and lower priced parts of cities can account for much of the noise in median price measures.
Abstract: There is a trade-off between how easy a housing price series is to construct and the extent to which it adjusts for changes in the mix of dwellings sold Median house price measures are easily calculated, frequently used by industry bodies, and quoted in the press However, such measures provide poor estimates of short-term changes in prices because they reflect changes in the composition of transactions, as well as changes in demand and supply conditions This study uses a database of 35 million transactions in the six largest Australian cities to demonstrate that compositional shifts between higher- and lower-priced parts of cities can account for much of the noise in median price measures Accordingly, a simple method of adjusting for compositional change through stratification is proposed The measure differs from those commonly used internationally as neighborhoods or small geographic regions are grouped according to the long-term average price level of dwellings in those regions The measure of price growth produced improves substantially upon a median and is very highly correlated with regression-based measures

47 citations

Journal ArticleDOI
TL;DR: In this paper, the authors characterize the patterns of pricing and rationing when paternalistic nonprofit organizations (either private or governmental) care about the level and distribution of consumer surplus provided to their clients.

47 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
20238
202215
20217
202013
201922
201837