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Location-Price Competition with Delivered Pricing and Elastic Demand
Networks and Spatial Economics ( IF 2.4 ) Pub Date : 2019-11-27 , DOI: 10.1007/s11067-019-09484-3
Phillip J. Lederer

In the past, implementing delivered pricing has been perceived as unrealistic because of practical difficulties in distinguishing between customers, determining an individual’s willingness to pay, and setting different prices to individuals. The rise of e-commerce has introduced the possibility of doing all three. Competitive location with delivered pricing was studied by Lederer and Hurter (1986) but only with inelastic customer demand. This paper extends the literature by allowing price elastic demand. A Nash equilibrium with inelastic demand always exists but examples show that it may not with price elasticity. General sufficient conditions guaranteeing existence of a Nash equilibrium are developed despite the fact that even with these conditions a firm’s profit function is generally not concave, quasi-concave, supermodular or even continuous in location choices. Examples demonstrate how violation of sufficient conditions result in lack of existence. Given price elasticity, equilibrium locations demonstrate properties unlike the inelastic case, for example, as transportation cost rises or firms’ production costs rise, each firm locates closer to its competitor. Given our sufficient conditions for equilibrium’s existence, the interval spanning firms’ ordered equilibrium locations always contains a social welfare optimum pair and a social welfare optimum pair is always contained by an ordered equilibrium.

中文翻译:

具有交付价格和弹性需求的地区价格竞争

过去,由于在区分客户,确定个人付款意愿以及为个人设定不同价格方面存在实际困难,因此实施交付定价被认为是不现实的。电子商务的兴起引入了同时进行这三项工作的可能性。Lederer和Hurter(1986)研究了具有交付价格的竞争性地理位置,但只考虑了缺乏弹性的客户需求。本文通过允许价格弹性需求来扩展文献。带有非弹性需求的纳什均衡总是存在的,但实例表明它可能不具有价格弹性。尽管事实证明,即使有这些条件,企业的利润函数通常也不是凹的,拟凹的,超模块化甚至连续的位置选择。实例说明了违反足够条件会导致缺乏生存的情况。在具有价格弹性的情况下,平衡位置显示出与非弹性情况不同的属性,例如,随着运输成本的上升公司的生产成本上升,每个公司的位置都更靠近其竞争对手。给定我们存在均衡的充分条件,跨越公司有序均衡位置的区间始终包含一个社会福利最优对,而一个社会福利最优对则总是包含有序均衡。
更新日期:2019-11-27
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