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Competition in posted prices with stochastic discounts

Abstract:

We study price competition between firms over public list or posted prices when a fraction of consumers (termed 'bargainers') can subsequently receive discounts with some probability. Such stochastic discounts are a feature of markets in which some consumers bargain explicitly and of markets in which sellers use the marketing practice of couponing. Even though bargainers receive reductions off the posted prices, the potential to discount dampens competitive pressure in the market, thus raisin...

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Publication status:
Accepted
Peer review status:
Peer reviewed

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Role:
Author
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Department:
Warwick Business School, University of Warwick
Role:
Author
Publisher:
Wiley Publisher's website
Journal:
Economic Journal
Acceptance date:
2015-04-14
EISSN:
1468-0297
Language:
English
Keywords:
Subjects:
UUID:
uuid:8ea03344-c54b-4718-8d46-3ad807b6a728
Deposit date:
2015-04-30

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