Haggling Over Substitutes.
Using a model of substitutable goods I determine generic conditions on tastes which guarantee that fixed prices are not optimal: the fully optimal tariff includes lotteries. That is, a profit maximising seller would employ a haggling strategy. We show that the fully optimal selling strategy in a cla...
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| Médium: | Journal article |
| Jazyk: | English |
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Elsevier
2004
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