499:. The Law of diminishing marginal utility stipulates that a consumer's utility may decrease (diminish) with each successive unit. For example, the marginal utility received from enjoying a ride at a theme park may gradually diminish each time you go on the same ride. By offering a quantity discount for a larger quantity purchased the seller is able to capture some of the consumer surplus but not all. This is because diminishing marginal utility may mean the consumer would not be willing to purchase an additional unit without a discount since the marginal utility received from the good or service is no longer greater than the price. However, by offering a discount the seller can capture some of consumers surplus by encouraging them to purchase an additional unit at a discounted price. This is particularly widespread in sales to industrial customers, where bulk buyers enjoy discounts.
1736:" of approximately $ 1,351.00 for the same services as men. It was also estimated that women, over the course of their lives, spend thousands of dollars more than men to purchase similar products. For example, prior to the enactment of the Patient Protection and Affordable Care Act ("Affordable Care Act"), health insurance companies charged women higher premiums for individual health insurance policies than men. Under the Affordable Care Act, health insurance companies are now required to offer the same premium price to all applicants of the same age and geographical locale without regard to gender. However, there is no federal law banning gender-based price discrimination in the sale of products. Instead, several cities and states have passed legislation prohibiting gender-based price discrimination on products and services.
292:(a rule that allow consumers to segment themselves into based on their needs, behaviour and willingness to pay). Price discrimination is thus very common in services where resale is not possible; an example is student discounts at museums: In theory, students, for their condition as students, may get lower prices than the rest of the population for a certain product or service, and later will not become resellers, since what they received, may only be used or consumed by them because it is required to show their student identification card when making the purchase. Another example of price discrimination is
516:
discrimination. With third-degree price discrimination, the firms try to generate sales by identifying different market segments, such as domestic and industrial users, with different price elasticities. Markets must be kept separate by time, physical distance, and nature of use. For example, the
Microsoft Office Schools edition is available for a lower price to educational institutions than to other users. The markets cannot overlap so that consumers who purchase at a lower price in the elastic sub-market could resell at a higher price in the inelastic sub-market.
1908:, or a restaurant, which has to pay for premises and equipment). If these fixed costs permit the company to additionally provide less-preferred products (like mid-morning meals or off-peak rail travel) at little additional cost, it can profit both seller and buyer to offer them at lower prices. Providing more product from the same fixed costs increases both producer and consumer surplus. This is not technically price discrimination (unlike, say, giving menus with higher prices to richer-looking customers, which the poorer-looking ones get an ordinary menu).
481:. First-degree price discrimination is the most profitable as it obtains all of the consumer surplus and each consumer buys the good at the highest price they are willing to pay. The marginal consumer is the one whose reservation price equals the marginal cost of the product, meaning that the social surplus is entirely from producer surplus (no consumer surplus). If the seller engages in first degree price discrimination, then they will produce more product than they would with no price discrimination. Hence first degree price discrimination can eliminate
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score which indicates his or her preferences; consequently, the firm will be able to set the price for the individual customer at the point that minimizes the consumer surplus. Oftentimes, consumers are not aware of the ways to manipulate that score. If he or she wants to do to so, he or she could reduce the demand to reduce the average equilibrium price, which will reduce the firm's price discriminating strategy. It is an instance of third-degree price discrimination.
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uncomfortable. In the example of coffee, a restaurant may gain more economic profit by making poor quality regular coffee—more profit is gained from up-selling to premium customers than is lost from customers who refuse to purchase inexpensive but poor quality coffee. In such cases, the net social utility should also account for the "lost" utility to consumers of the regular product, although determining the magnitude of this foregone utility may not be feasible.
1575:. Foreigners may be perceived as being more wealthy than locals and therefore being capable of paying more for goods and services – sometimes this can be even 35 times as much. Market stall-holders and individual public transport providers may also insist on higher prices for their goods and services when dealing with foreigners (sometimes called the "White Man Tax"). Some goods – such as housing – may be offered at cheaper prices for certain ethnic groups.
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3779:., Civil Rights--Gender Discrimination--California Prohibits Gender-Based Pricing--Cal. Civ. Code. § 51.6 (West Supp. 1996), 109 HARV. L. REV. 1839, 1839 (1996) (“Differential pricing of services is one of America's last remaining vestiges of formal gender-based discrimination.”); Joyce McClements and Cheryl Thomas, Public Accommodations Statutes: Is Ladies' Night Out?, 37 MERCER L. REV. 1605, 1618 (1986); Heidi Paulson,
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the New York City
Department of Consumer Affairs ("DCA") conducted an investigation of "price bias against women in the marketplace". The DCA's investigation concluded that women paid more than men at used car dealers, dry cleaners, and hair salons. The DCA's research on gender pricing in New York City brought national attention to gender-based price discrimination and the financial impact it has on women.
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designed to reduce the administrative and finance costs of processing each transaction. Thus, there are bulk discounts, special pricing for long-term commitments, non-peak discounts, discounts on high-demand goods to incentivize buying lower-demand goods, rebates, and many others. This can help the relations between the firms involved. It's the example of the second-price discrimination.
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First, there was price discrimination according to income, with the poorer users benefiting from a higher discount rate than richer ones. Secondly, there was price discrimination according to social status, with three high status occupational groups (doctors, senior government officials, and large businessmen) having the highest probability of receiving some level of discount.
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1793:. Some academic software may have differing licenses than retail versions, usually disallowing their use in activities for profit or expiring the license after a given number of months. This also has the characteristics of an "initial offer" – that is, the profits from an academic customer may come partly in the form of future non-academic sales due to
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other willing to make up the rest but not to pay the entire cost, then price discrimination can allow the purchase to take place. However, this will cost the consumers as much or more than if they pooled their money to pay a non-discriminating price. If the consumer is considered to be the building, then a consumer surplus goes to the inhabitants.
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charging high prices for customers with relatively inelastic demand – business travelers – and discount prices for tourist who have relatively elastic demand. The airlines enforce the scheme by enforcing a no resale policy on the tickets preventing a tourist from buying a ticket at a discounted price and selling it to a business traveler (
43:
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travelers, and cinema goers can be subdivided into adults and children, with some theatres also offering discounts to full-time students and seniors. Splitting the market into peak and off-peak use of service is very common and occurs with gas, electricity, and telephone supply, as well as gym membership and parking charges.
1571:, and other places have different admission prices per market segment: typical groupings are Youth/Child, Student, Adult, Senior Citizen, Local and Foreigner. Each of these groups typically have a much different demand curve. Children, people living on student wages, and people living on retirement generally have much less
536:. The customer pays an initial cost for the razor and then pays again for the replacement blades. This pricing strategy works because it shifts the demand curve to the right: since the customer has already paid for the initial blade holder and will continue to buy the blades which are cheaper than buying disposable razors.
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markup can be eliminated. However, an upstream monopolist has the authority to set higher unit wholesale prices to the downstream firms in discriminatory two-part tariff, which is different from uniform two-part tariff pricing. As a result, the discriminatory two-part tariff for wholesale prices can harm social welfare.
1331:, no price discrimination is possible, and the average total cost (ATC) curve will be identical to the marginal cost curve (MC). The price will be the intersection of this ATC/MC curve and the demand line (Dt). The consumer thus buys the product at the cheapest price at which any manufacturer can produce any quantity.
1014:. The sum of these areas will always be greater than the area without discrimination assuming the demand curve resembles a rectangular hyperbola with unitary elasticity. The more prices that are introduced, the greater the sum of the revenue areas, and the more of the consumer surplus is captured by the producer.
231:"Group pricing" (or third-degree price differentiation) — dividing the market into segments and charging a different price to each segment (but the same price to each member of that segment). This is essentially a heuristic approximation that simplifies the problem in face of the difficulties with personalized
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There are two conditions that must be met if a price discrimination scheme is to work. First the firm must be able to identify market segments by their price elasticity of demand and second the firms must be able to enforce the scheme. For example, airlines routinely engage in price discrimination by
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Even online sales for non material goods, which do not have to be shipped, may change according to the geographic location of the buyer, such as music streaming services by
Spotify and Apple Music. The users in lower-income countries benefit from price discrimination by paying fewer subscription fees
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Gender-based price discrimination is the practice of offering identical or similar services and products to men and women at different prices when the cost of producing the products and services is the same. In the United States, gender-based price discrimination has been a source of debate. In 1992,
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Many methods exist to incentivize wholesale or industrial buyers. These may be quite targeted, as they are designed to generate specific activity, such as buying more frequently, buying more regularly, buying in bigger quantities, buying new products with established ones, and so on. They may also be
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and other travel companies regularly use differentiated pricing to sell travel products and services to different market segments. This is done by assigning capacity to various booking classes with different prices and fare restrictions. These restrictions ensure that market segments buy within their
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Firms that hold some monopolistic or oliogopolistic power will be able to increase their revenue. In theory, they might also use the money for investment which benefit consumers, like research and development, though this is more common in a competitive market where innovation brings temporary market
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In order to offer different prices for different groups of people in the aggregate market, the business has to use additional information to identify its consumers. The businesses must set prices according to the consumers' willingness to buy. Consequently, they will be involved in third-degree price
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Mobile phone plans and different subscriptions are often other instances of second-degree price discrimination. Consumers will usually believe a one-year subscription is more cost-effective than a monthly one. Whether or not consumers need such a long-time subscription, they are more likely to accept
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Whilst oligopolies hold more market power than perfectly competitive markets the use of price discrimination can lead to lower profits for oligopolies as they compete to hold greater shares of the market by lowering prices. For instance, when
Oligopolies use third degree price discrimination to offer
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are when different customers are charged different prices based on their income, which is used as a proxy for their willingness or ability to pay. For example, some nonprofit law firms charge on a sliding scale based on income and family size. Thus the clients paying a higher price at the top of the
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In
Chinese retail automobile market, researchers found that male buyers pay less than female buyers for cars with the same characteristics. Although this research documented the existence of price discrimination between locals and non-locals, local men still receive $ 221.63 discount more than local
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Another example can also be seen in how to collect grocery store coupons before the existence of digital coupons. Grocery store coupons were usually available in the free newspapers or magazines placed at the entrance of the stores. As coupons have a negative relationship with time, customers with a
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It is very useful for the price discriminator to determine the optimum prices in each market segment. This is done in the next diagram where each segment is considered as a separate market with its own demand curve. As usual, the profit maximizing output (Qt) is determined by the intersection of the
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or a 15-day advance purchase, that discourage or prevent sales to business passengers. However, "the seat" is not always the same product. A business person may be willing to pay $ 300 for a seat on a high-demand morning flight with full refundability and the ability to upgrade to first class for a
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Manufacturers may sell their products to similarly situated retailers at different prices based solely on the volume of products purchased. Sometimes, the firm investigate the consumers’ purchase histories which would show the customer's unobserved willingness to pay. Each customer has a purchasing
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can be exercised (see 'Price discrimination and monopoly power' below for more in-depth explanation). Without market power when the price is differentiated higher than the market equilibrium consumers will move to buy from other producers selling at the market equilibrium. Moreover, when the seller
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Firms often use third degree price discrimination concession and student segments in the market. By offering a perceived discount to market segments which generally have less disposable income, and hence are more price sensitive, the firm is able to capture the revenue from those with higher price
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for the producer. If, for example, potential business class customers will pay a large price differential only if economy class seats are uncomfortable while economy class customers are more sensitive to price than comfort, airlines may have substantial incentives to purposely make economy seating
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have argued that this is a form of price discrimination: by providing a choice between a regular and premium product, consumers are being asked to reveal their degree of price sensitivity (or willingness to pay) for comparable products. Similar techniques are used in pricing business class airline
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With the rise of the
Internet and low fare airlines, airfare pricing transparency has increased. Passengers can easily compare fares across flights and airlines, putting pressure on airlines to lower fares. In the recession following the September 11, 2001 attacks, business travelers made it clear
668:. This surplus arises because, in a market with a single clearing price, some customers (the very low price elasticity segment) would have been prepared to pay more than the market price. Price discrimination transfers some of this surplus from the consumer to the seller. It is a way of increasing
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The use of coupons in retail is an attempt to distinguish customers by their reserve price. The assumption is that people who go through the trouble of collecting coupons have greater price sensitivity than those who do not. Thus, making coupons available enables, for instance, breakfast cereal
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is another form of price discrimination where the producer charges an initial fee and a secondary fee for the use of the product. This pricing strategy yields a result similar to second-degree price discrimination. In addition, the two-part tariff is desirable for welfare because the monopolistic
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Price discrimination is also prevalent within the textbook publishing industry. Prices for textbooks are much higher in the United States despite the fact that they are produced in the country. Copyright protection laws increase the price of textbooks. Also, textbooks are mandatory in the United
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An airline may also apply differential pricing to "the same seat" over time by discounting the price for early or late bookings and weekend purchases. This is part of an airline's strategy to segment price-sensitive leisure travelers from price-inelastic business travelers. This could present an
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from selling more product. This means that charging some consumers less than an even share of costs can be beneficial. An example is a high-speed internet connection shared by two consumers in a single building; if one is willing to pay less than half the cost of connecting the building, and the
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and pay the cost-effective one. Besides, the producer will consequently see an increase in sales and profit. Second-degree price discrimination, also known as non-linear pricing, benefits consumers by allowing them to purchase at a cheaper price when they buy more instead of at the normal price.
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Price discrimination differentiates the willingness to pay of the customers, in order to eliminate as much consumer surplus as possible. By understanding the elasticity of the customer's demand, a business could use its market power to identify the customers' willingness to pay. Different people
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Price discrimination is common in the pharmaceutical industry. Drug-makers charge more for drugs in wealthier countries. For example, drug prices in the United States are some of the highest in the world. Europeans, on average, pay only 56% of what
Americans pay for the same prescription drugs.
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The welfare consequences of price discrimination were assessed by testing the differences in mean prices paid by patients from three income groups: low, middle and high. The results suggest that two different forms of price discrimination for obstetric services occurred in both these hospitals.
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Goods and services for weddings are sometimes priced at a higher rate than identical goods for normal customers. The wedding venues and services are usually priced differently depending on the wedding date. For instance, if the wedding is held during the peak seasons (school holidays or festive
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The hierarchy—complete/direct/indirect/uniform pricing—is in decreasing order of profitability and information requirement. Complete price discrimination is most profitable, and requires the seller to have the most information about buyers. Next most profitable and in information requirement is
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Third-degree price discrimination means charging a different price to a group of consumers based on their different elasticities of demand, and the group with less elastic always be charged a higher price. For example, rail and tube (subway) travelers can be subdivided into commuters and casual
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forms when a small group of business dominates an industry. When the dominating companies in an oligopoly model compete in prices, the motive for inter-temporal price discrimination would appear in the oligopoly market. Price discrimination can be facilitated by inventory controls in oligopoly.
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and some means to discourage discount customers from becoming resellers and, by extension, competitors. This usually entails using one or more means of preventing any resale: keeping the different price groups separate, making price comparisons difficult, or restricting pricing information. The
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high value of time will not find it worthwhile to spend 20 minutes in order to save $ 5 only. Meanwhile, customers with a low value of time will be satisfied by getting $ 5 less from their purchase as they tend to be more price-sensitive. It is an instance of third-degree price discrimination.
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An airline may also apply directional price discrimination by charging different roundtrip fares based on passenger origins. For example, passengers originating from City A, with a per capita income $ 30,000 higher than City B, may pay $ 5400–$ 12900 more than those from City B. This is due to
1728:
With consumer products, differential pricing is usually not based explicitly on the actual gender of the purchaser, but is achieved implicitly by the use of differential packaging, labelling, or colour schemes designed to appeal to male or female consumers. In many cases, where the product is
169:
All prices under price discrimination are higher than the equilibrium price in a perfectly competitive market. However, some prices under price discrimination may be lower than the price charged by a single-price monopolist. Price discrimination is utilized by the monopolist to recapture some
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If different prices are charged for products that only some consumers will see as equivalent, the differential pricing can be used to manage demand. For instance, airlines can use price discrimination to encourage people to travel at unpopular times (early in the morning). This helps avoid
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of
African consumers is much lower, sales would be extremely limited without price discrimination. The ability of pharmaceutical companies to maintain price differences between countries is often either reinforced or hindered by national drugs laws and regulations, or the lack thereof.
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In Europe, motor insurance premiums have historically been higher for men than for women, a practice that the insurance industry attempts to justify on the basis of different levels of risk. The EU has banned this practice; however, there is evidence that it is being replaced by "proxy
188:
is also used to describe the practice of charging different prices to different buyers for the same quality and quantity of a product, but it can also refer to a combination of price differentiation and product differentiation. Other terms used to refer to price discrimination include
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Higher prices. Under price discrimination, all consumers will pay higher prices than they would in a competitive market. Some consumers will end up paying higher prices than they would in a single-price monopoly. These higher prices are likely to be allocatively inefficient because P
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Samuelson & Marks, Managerial
Economics 4th ed. (Wiley 2003) Airlines typically attempt to maximize revenue rather than profits because airlines variable costs are small. Thus airlines use pricing strategies designed to fill seats rather than equate marginal revenue and marginal
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True price discrimination occurs when exactly the same product is sold at multiple prices. It benefits only the seller, compared to a competitive market. It benefits some buyers at a (greater) cost to others, causing a net loss to consumers, compared to a single-price monopoly. For
1357:). So old people may get lower train fares than they would if everyone got the same price, because the train company knows that old people are more likely to be poor. Also, customers willing to spend time in researching ‘special offers’ get lower prices; their effort acts as an
296:, enforced by law and by technology. In the market for DVDs, laws require DVD players to be designed and produced with hardware or software that prevents inexpensive copying or playing of content purchased legally elsewhere in the world at a lower price. In the US the
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would pay a different price for the same product when price discrimination exists in the market. When a company recognized a consumer that has a lower willingness to pay, the company could use the price discrimination strategy in order to maximized the firm's profit.
1858:). Airlines must also prevent business travelers from directly buying discount tickets. Airlines accomplish this by imposing advance ticketing requirements or minimum stay requirements—conditions that would be difficult for the average business traveler to meet.
473:) that every consumer is willing to pay. By knowing the reservation price, the seller is able to sell the good or service to each consumer at the maximum price they are willing to pay (granted it is greater or equal to the marginal cost), and thus transform the
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market will always be lower than any price under price discrimination (including in special cases like the internet connection example above, assuming that the perfectly competitive market allows consumers to pool their resources). In a market with
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It can be proved mathematically that a firm facing a downward sloping demand curve that is convex to the origin will always obtain higher revenues under price discrimination than under a single price strategy. This can also be shown geometrically.
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Since price discrimination is dependent on a firm's market power generally monopolies use price discrimination, however, oligopolies can also use price discrimination when the risk of arbitrage and consumers moving to other competitors is low.
217:. The optimal incarnation of this is called "perfect price discrimination" and maximizes the price that each customer is willing to pay. As such, in first degree price differentiation the entire consumer surplus is captured for each individual.
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Lower prices (for some) than in a one-price monopoly. Even the lowest "discounted" prices will be higher than the price in a competitive market, which is equal to the cost of production. For example, trains tend to be near-monopolies (see
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In the matching markets, the platforms will internalize the impacts in revenue to create a cross-side effects. In return, this cross-side effect will differentiate price discrimination in matching intermediation from the standard markets.
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Seasonal discounts, incentive discounts, and even general prices that vary by location. The price of a flight from say, Singapore to
Beijing can vary widely if one buys the ticket in Singapore compared to Beijing (or New York or Tokyo or
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that occurs in monopolistic markets. Examples of first degree price discrimination can be observed in markets where consumers bid for tenders, though, in this case, the practice of collusive tendering could reduce the market efficiency.
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a lower price to consumers with high price elasticity (lower disposable income) they compete with other firms to capture the market until a lower profit is retained. Hence, Oligopolies may be dissuaded from using price discrimination.
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pricing. Such user-controlled price discrimination exploits similar ability to adapt to varying demand curves or individual price sensitivities, and may avoid the negative perceptions of price discrimination as imposed by a seller.
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designated booking class range. For example, schedule-sensitive business passengers willing to pay $ 300 for a seat from city A to city B cannot purchase a $ 150 ticket because the $ 150 booking class has restrictions, such as a
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The above requires both first and second degree price discrimination: the right segment corresponds partly to different people than the left segment, partly to the same people, willing to buy more if the product is cheaper.
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rates vary by segment, competition for seats takes into account the spatial dynamics of the product. Someone trying to fly A-B is competing with people trying to fly A-C through city B on the same aircraft. Airlines use
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they would not buy air travel at rates high enough to subsidize lower fares for non-business travelers. This prediction has come true as many business travelers now buy economy class airfares for business travel.
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than those in higher-income countries. The researchers also found that the cross-national price differences actually raise the revenue of those companies by about 6% while reducing world users’ welfare by 1%.
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Discounted tickets requiring advance purchase and/or Saturday stays. Both restrictions have the effect of excluding business travelers, who typically travel during the workweek and arrange trips on shorter
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and maximize their profits while benefiting some consumers at lower prices. Price discrimination can take many forms and is prevalent in many industries, from education and telecommunications to healthcare.
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In second-degree price discrimination, the price of the same good varies according to the quantity demanded. It usually comes in the form of quantity discount which recognises of the law of diminishing
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The marginal revenue in both markets at the optimal output levels must be equal, otherwise the firm could profit from transferring output over to whichever market is offering higher marginal revenue.
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fee scale help subsidize the clients at the bottom of the scale. This differential pricing enables the nonprofit to serve a broader segment of the market than they could if they only set one price.
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Price discrimination is a sign that the market is imperfect, the seller has some monopoly power, and that prices and seller profits are higher than they would be in a perfectly competitive market.
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These types are not mutually exclusive. Thus a company may vary pricing by location, but then offer bulk discounts as well. Airlines use several different types of price discrimination, including:
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tries to sell the same good at differentiating prices, the buyer at the lower price can arbitrage by selling to the consumer buying at the higher price with a small discount from the higher price.
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of production. For example, a coffee chain may price regular coffee at $ 1, but "premium" coffee at $ 2.50 (where the respective costs of production may be $ 0.90 and $ 1.25). Economists such as
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has provisions to outlaw circumventing of such devices to protect the enhanced monopoly profits that copyright holders can obtain from price discrimination against higher price market segments.
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While the conventional theory of price discrimination generally assumes that prices are set by the seller, there is a variant form in which prices are set by the buyer, such as in the form of
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nominal fee. On the same flight, price-sensitive passengers may not be willing to pay $ 300 but are willing to fly on a lower-demand flight or via a connection city and forgo refundability.
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women and non-local men receive $ 330.19 discount more than non-local women. The discount represents approximately 10% of average personal budget, considering the per capita GDP for 2018.
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is not price discrimination. Peak and off-peak fares on a train are not the same product; some people have to travel during rush hour, and travelling off-peak is not equivalent to them.
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over-crowding and helps to spread out demand. The airline gets better use out of planes and airports, and can thus charge less (or profit more) than if it only flew peak hours.
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direct segmentation, followed by indirect segmentation. Finally, uniform pricing is the least profitable and requires the seller to have the least information about buyers is.
1399:. Profits from price discrimination could be used to finance predatory pricing. Predatory pricing can be used to maintain the monopolistic power needed to price-discriminate.
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First degree price discrimination based on customer. Hotel or car rental firms may quote higher prices to their loyalty program's top tier members than to the general public.
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Pharmaceutical companies may charge customers living in wealthier countries a much higher price than for identical drugs in poorer nations, as is the case with the sale of
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320:
refers to the ability of a firm to manipulate the price without losing shares (sales) in the market. Some factors which affect the market power of a firm are listed below:
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personnel. In addition to increased sales to the target group, businesses benefit from the resulting positive publicity, leading to increased sales to the general public.
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where the seller prices each unit at a different price, so that each user purchases up to the point where the user's marginal benefit equals the marginal cost of the item;
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discrimination", that is, discrimination on the basis of factors that are strongly correlated with gender: for example, charging construction workers more than midwives.
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In 1995, California Assembly's Office of Research studied the issue of gender-based price discrimination of services and estimated that women effectively paid an annual "
3783:, 32 B.C. L. Rev. 487, 528 (1991) (arguing that ladies' night promotions encourage paternalistic attitudes toward women and encourage stereotypes of both men and women).
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Potentially unfair. Those who pay higher prices may not be the richest. For example, adults paying full price could be unemployed, senior citizens can be very well off.
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Exercising first degree (or perfect or primary) price discrimination requires the monopoly seller of a good or service to know the absolute maximum price (or
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166:. For price discrimination to succeed, a firm must have market power, such as a dominant market share, product uniqueness, sole pricing power, etc.
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arbitrage opportunity in the absence of restrictions on reselling, but passenger name changes are typically prevented or financially penalized.
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for the differently priced products involved in the latter strategy. Price discrimination essentially relies on the variation in the customers'
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The firm decides what amount of the total output to sell in each market by looking at the intersection of marginal cost with marginal revenue (
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makers to charge higher prices to price-insensitive customers, while still making some profit off customers who are more price-sensitive.
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Patient Protection and Affordable Care Act, Pub. L. No. 111-148, 124 Stat. 119 (2010) (to be codified in scattered titles and sections).
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airlines segmenting passenger price sensitivity based on the income of route endpoints. Since airlines often fly multi-leg flights and
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1037:). This output is then divided between the two markets, at the equilibrium marginal revenue level. Therefore, the optimum outputs are
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For certain products, premium products are priced at a level (compared to "regular" or "economy" products) that is well beyond their
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334:
The degree of market power can usually be divided into 4 categories (listed in the table below in order of increasing market power):
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213:"Personalized pricing" (or first-degree price differentiation) — selling to each customer at a different price; this is also called
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technology to determine how many seats to allot for A-B, B-C, and A-B-C passengers at varying fares, demands, and no-show rates.
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sensitivity whilst also charging higher prices and capturing the consumer surplus of the segments with less price sensitivity.
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Administration costs. There will be administration costs in separating the markets, which could lead to higher prices.
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Decline in consumer surplus. Price discrimination enables a transfer of money from consumers to firms – increasing
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Multiple Market Price Determination; splitting the demand line where it bends (bend: right; split: left and center)
209:". Within the broader domain of price differentiation, a commonly accepted classification dating to the 1920s is:
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2175:
Lott, John R.; Roberts, Russell D. (January 1991). "A Guide to the Pitfalls of Identifying Price Discrimination".
2136:"Dual Pricing – Two Points of View (Citizen and Non-citizen) Case of Entrance Fees in Tourist Facilities in Nepal"
1634:
1619:
1440:
5301:
5125:
5001:
4477:
1645:
112:
2338:
5306:
5095:
4667:
4536:
1986:
1538:
1991:
1543:
tickets and premium alcoholic drinks, for example.They are examples of the third-degree price discrimination.
1507:
Finally, there are sometimes group discounts on rail tickets and passes (second-degree price discrimination).
629:
where the seller relies on some proxy (e.g., package size, usage quantity, coupon) to structure a choice that
4293:"Price Discrimination Under Ec Competition Law: Another Antitrust Doctrine in Search of Limiting Principles?"
1729:
marketed to make an attractive gift, the gender of the purchaser may be different from that of the end user.
5248:
5069:
4966:
4961:
4911:
4784:
4662:
4421:
151:
1583:
Some businesses may offer reduced prices members of some occupations, such as school teachers (see below),
5417:
5375:
5370:
5253:
5130:
4986:
4946:
4941:
4723:
4694:
4551:
4473:
2886:
214:
3670:
926:
is charged to the high elasticity segment. The total revenue from the first segment is equal to the area
5484:
5348:
5187:
4931:
4916:
4632:
4178:
3081:
2938:
1025:
293:
4402:
3908:
3620:
3581:
1361:
of their price-sensitivity, by reducing their consumer surplus by the value of the time spent hunting.
5514:
5469:
5437:
5432:
5358:
5333:
5289:
4981:
4901:
4833:
4642:
4578:
4396:
2211:
683:
It can be argued that strictly, a consumer surplus need not exist, for example where fixed costs or
592:, 3rd edition, 1929). However, these categories are not mutually exclusive or exhaustive. Ivan Png (
5585:
5363:
5194:
5145:
5088:
4996:
4823:
4672:
4615:
4458:
3696:
1961:
1946:
1479:
1328:
1323:
1212:
1034:
284:
249:
147:
1670:
220:"Product versioning" or simply "versioning" (or second-degree price differentiation) — offering a
5489:
5427:
5215:
5204:
5182:
5177:
5166:
4906:
4852:
4779:
4689:
4647:
4637:
4605:
4600:
4546:
4541:
4249:
4166:
4005:
3648:
3562:
3515:
3287:
3054:
2989:
2926:
2732:
2466:
1996:
1971:
1894:
1884:
1805:
1568:
1547:
1492:
1367:
684:
272:
159:
139:
31:
17:
3225:"Many-to-many matching and price discrimination: Many-to-many matching and price discrimination"
2286:
822:
With price discrimination, (the bottom diagram), the demand curve is divided into two segments (
4407:
2814:
2047:
973:
929:
5464:
5338:
5231:
5140:
5039:
5027:
5006:
4976:
4838:
4762:
4718:
4390:
4353:
4345:
4312:
4241:
4158:
4137:
Cabolis, Christos, Clerides, Sofronis, Ioannou, Ioannis, & Senft, Daniel. (1 April 2007).
4119:
3997:
3956:
3928:
3864:
3640:
3601:
3554:
3507:
3468:
3419:
3378:
3337:
3329:
3154:
2970:"Third-degree price discrimination in oligopoly: all-out competition and strategic commitment"
2844:
2768:
2720:
2710:
2680:
2613:
2586:
2556:
2526:
2499:
2493:
2456:
2416:
2410:
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2311:
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2257:
2251:
2192:
2157:
2109:
2075:
1966:
1926:
1572:
1396:
1384:
572:
470:
224:
by creating slightly differentiated products for the purpose of price differentiation, i.e. a
163:
2607:
2580:
2550:
2520:
2380:
2103:
2069:
732:
5606:
5540:
5535:
5321:
5316:
5199:
5155:
4991:
4971:
4878:
4828:
4799:
4657:
4622:
4519:
4497:
4337:
4304:
4233:
4150:
4111:
3989:
3920:
3632:
3593:
3546:
3499:
3458:
3450:
3411:
3321:
3279:
3246:
3236:
3181:
3146:
3046:
2981:
2918:
2834:
2826:
2672:
2448:
2184:
2147:
2039:
2035:
2011:
2006:
1774:
1757:
1497:
1354:
665:
496:
478:
474:
257:
236:
175:
3438:
1185:
1158:
1121:
1094:
1067:
1040:
656:
5550:
5311:
5059:
4531:
4468:
4222:"Price discrimination based on purchase behavior and service cost in competitive channels"
3582:"Price discrimination by day-of-week of purchase: Evidence from the U.S. airline industry"
3309:
3094:
2951:
2863:"Monopoly and competition | Definition, Structures, Performance, & Facts | Britannica"
1931:
1921:
1790:
1789:
levels. These may be labeled as academic versions, but perform the same as the full price
1370:, which can benefit the buyer and is not price discrimination, see counterexamples below.
900:
871:
692:
677:
669:
525:
482:
253:
171:
155:
1091:. From the demand curve in each market the profit can be determined maximizing prices of
796:
770:
706:
477:
into seller revenue. Resultantly, the profit is equal to the sum of consumer surplus and
2038:(2003). "Chapter 6: Economies of Scale, Imperfect Competition and International Trade".
848:
825:
111:
Please expand the article to include this information. Further details may exist on the
5555:
5034:
4774:
4733:
4652:
4444:
3534:
2789:
2279:
2188:
2142:. 3rd International Geography Symposium, GEOMED2013, 10–13 June 2013, Antalya, Turkey.
1976:
1951:
1794:
1753:
1564:
136:
2862:
5600:
5294:
5243:
4956:
4856:
4847:
4818:
4804:
4794:
4738:
4502:
4492:
4482:
4009:
3909:"Demographics, gender and local knowledge-Price discrimination in China's car market"
3652:
3566:
3291:
2930:
2470:
2373:
2040:
2001:
1905:
1560:
1529:
1358:
1022:
marginal cost curve (MC) with the marginal revenue curve for the total market (MRt).
688:
673:
4253:
4170:
3519:
5343:
4926:
4758:
4753:
4487:
4029:
3636:
3200:"Is Ctrip reliable to book international flights? - Air Travel Forum - Tripadvisor"
3134:
2546:
2031:
317:
276:
221:
4154:
3924:
2440:
551:
Incentive discounts for higher sales volumes to travel agents and corporate buyers
2452:
2441:"Personalized Medicine and Personalized Pricing: Degrees of Price Discrimination"
2152:
2135:
615:
where the seller can condition price on some attribute (like age or gender) that
5226:
4951:
4863:
4743:
4595:
4509:
4138:
4100:"Price Discrimination for Pharmaceuticals: Welfare Effects in the US and the EU"
3827:
California State Senate, Gender Tax Repeal Act of 1995, AB 1100 (Aug. 31, 1995).
3488:"Price Discrimination in the Airline Market: The Effect of Market Concentration"
1604:
1533:
588:
The first/second/third degree taxonomy of price discrimination is due to Pigou (
4237:
3993:
3949:
World poverty and human rights : cosmopolitan responsibilities and reforms
3597:
3503:
5111:
4711:
4463:
4381:
3283:
2724:
1901:
1786:
288:
boundary set up by the marketer to keep segments separate is referred to as a
4372:
4349:
4316:
4245:
4221:
4162:
4123:
4001:
3977:
3932:
3868:
3644:
3605:
3558:
3511:
3487:
3472:
3423:
3333:
3158:
2848:
2196:
2161:
5281:
5022:
4789:
4706:
4701:
4514:
4308:
3535:"Advance-Purchase Discounts and Price Discrimination in Competitive Markets"
3454:
3400:"Behavior-Based Pricing, Production Efficiency, and Quality Differentiation"
3267:
1981:
1941:
1855:
729:
is available to all customers. The amount of revenue is represented by area
448:
269:
261:
4357:
3857:"Analysis | Why you should always buy the men's version of almost anything"
3621:"Evidence of directional price discrimination in the U.S. airline industry"
3415:
3341:
3050:
2830:
2704:
2666:
142:
where identical or largely similar goods or services are sold at different
97:
5237:
5054:
4387:
2676:
1818:
seasons), the price will be higher than in the off-season wedding months.
5353:
5276:
4814:
4809:
4684:
4326:"Price discrimination in obstetric services – a case study in Bangladesh"
3719:"Beijing's 'White Man Tax' Pegged at a Median 16% in Unscientific Survey"
3463:
3399:
3310:"Price discrimination in obstetric services – a case study in Bangladesh"
3150:
1778:
1733:
1588:
664:
The purpose of price discrimination is generally to capture the market's
265:
4292:
3907:
Chen, Li-Zhong; Hu, Wei-Min; Szulga, Radek; Zhou, Xiaolan (2018-02-01).
3251:
3058:
3034:
2911:
4868:
4767:
4679:
2993:
2969:
2912:"Intertemporal Price Discrimination in Sequential Quantity-Price Games"
2839:
1474:
232:
4115:
5258:
4843:
3978:"The Welfare Effects of Spotify's Cross-Country Price Discrimination"
1875:
Some pricing patterns appear to be price discrimination but are not.
1782:
1584:
4341:
4099:
3325:
2985:
1555:
Segmentation by age group, student status, ethnicity and citizenship
3550:
3241:
3224:
3185:
3035:"Pricing of Wireless Services: Service Pricing vs. Traffic Pricing"
2922:
4728:
4610:
4590:
4325:
1024:
655:
643:
where the seller sets the same price for each unit of the product.
533:
143:
4413:
3133:
Bergemann, Dirk; Brooks, Benjamin; Morris, Stephen (2015-03-01).
2632:("Price Discrimination and Imperfect Competition", Lars A. Stole)
970:. The total revenue from the second segment is equal to the area
228:
product line. Another name given to versioning is "menu pricing".
4885:
4197:
Samuelson & Marks, Managerial Economics 4th ed. (Wiley 2003)
1845:
States while schools in other countries see them as study aids.
548:
Bulk discounts to wholesalers, consolidators, and tour operators
260:
or prohibition on secondary exchange (or re-selling) to prevent
5084:
4417:
3890:"EU's gender ruling on car insurance has made inequality worse"
3823:
3821:
3740:"Bumiputera discount: A sensitive topic that must be addressed"
1598:
1407:
427:
Impossible entry (i.e. patents, contracts which prevent entry)
91:
36:
5080:
3767:
PRICE DISCRIMINATION, Black's Law Dictionary (10th ed. 2014).
2552:
Contemporary Industrial Organization: A Quantitative Approach
2447:, Cham: Springer International Publishing, pp. 171–180,
3781:
Ladies' Night Discounts: Should We Bar Them or Promote Them?
2281:
Double Standards in Medical Research in Developing Countries
1209:, the optimal pricing ration in Market 1 versus Market 2 is
897:
is charged to the low elasticity segment, and a lower price
174:. This pricing strategy enables firms to capture additional
4025:"The Utah Lawyers Who Are Making Legal Services Affordable"
2404:
2402:
2400:
2375:
Information Rules: A Strategic Guide to the Network Economy
2310:
Bernard M. Hoekman; Aaditya Mattoo; Philip English (2002).
532:
An example of two-part tariff pricing is in the market for
4139:"A textbook example of international price discrimination"
4053:"Getting Married? Then Get Ready for Price Discrimination"
3798:"From Cradle to Cane: The Cost of Being a Female Consumer"
3033:
Lahiri, Atanu; Dewan, Rajiv M; Freimer, Marshall (2013).
3172:
Hayes, Beth (1987). "Competition and Two-Part Tariffs".
672:. In a perfectly competitive market, manufacturers make
3377:(1 ed.). Malden, MA: Blackwell. pp. 301–315.
2102:
Peter Belobaba; Amedeo Odoni; Cynthia Barnhart (2009).
1436:
27:
Microeconomic pricing strategy to maximise firm profits
5475:
International Conference on Population and Development
4410:
Steven Landsburg's explanation of dry cleaner pricing.
4220:
Xu, Man; Tang, Wansheng; Zhou, Chi (1 February 2020).
3437:
Bonatti, Alessandro; Cisternas, Gonzalo (2020-03-01).
1720:
Gender-based price discrimination in the United States
767:. The consumer surplus is the area above line segment
1215:
1188:
1161:
1124:
1097:
1070:
1043:
976:
932:
903:
874:
851:
828:
799:
773:
735:
709:
4291:
Geradin, Damien; Petit, Nicolas (1 September 2006).
1338:
Advantages and disadvantages of price discrimination
5528:
5453:
5405:
5384:
5267:
5213:
5164:
5118:
5015:
4894:
4451:
4403:
Joelonsoftware's blog entry on Price Discrimination
3223:Gomes, Renato; Pavan, Alessandro (September 2016).
2439:Mance, Davor; Mance, Diana; Vitezić, Dinko (2019),
2097:
2095:
2093:
2091:
660:
Sales revenue without and with price discrimination
596:, 1998: 301–315) suggests an alternative taxonomy:
4324:Amin, Mohammad; Hanson, Kara; Mills, Anne (2004).
4104:International Journal of the Economics of Business
3308:Amin, Mohammad; Hanson, Kara; Mills, Anne (2004).
2574:
2572:
2487:
2485:
2372:
2278:
1311:
1201:
1174:
1137:
1110:
1083:
1056:
1006:
962:
918:
889:
860:
837:
811:
785:
759:
721:
3580:Puller, Steven L.; Taylor, Lisa M. (2012-12-01).
2668:Innovative Pricing Strategies to Increase Profits
2366:
2364:
2362:
2360:
2358:
2063:
2061:
2059:
2057:
1849:Two necessary conditions for price discrimination
680:, so they cannot engage in price discrimination.
4074:"Wedding costs - Shopping for special occasions"
3845:Affordable Care Act § 2701, 124 Stat. 119, 37-38
3625:International Journal of Industrial Organization
2706:Arbitrage : elements of financial economics
1904:(like a train company, which owns a railway and
264:, price discrimination can only be a feature of
3586:Journal of Economic Behavior & Organization
2813:Anderson, Eric T.; Dana, James D. (June 2009).
2495:Revenue Management for the Hospitality Industry
2412:Industrial Organization: Markets and Strategies
56:for grammar, style, cohesion, tone, or spelling
4373:Price Discrimination and Imperfect Competition
2910:Dana, James; Williams, Kevin (February 2020).
5096:
4429:
2525:. Stanford University Press. pp. 82–83.
2339:"The Emerging Danger of Surveillance Pricing"
150:. Price discrimination is distinguished from
8:
4268:"How Do Companies Use Price Discrimination?"
4183:: CS1 maint: multiple names: authors list (
3805:New York City Department of Consumer Affairs
1579:Discounts for members of certain occupations
5500:United Nations world population conferences
2445:Personalized Medicine in Healthcare Systems
2415:. Cambridge University Press. p. 196.
2313:Development, Trade, and the WTO: A Handbook
2042:International Economics - Theory and Policy
1889:Price discrimination only happens when the
1633:. Unsourced material may be challenged and
465:First degree (Perfect price discrimination)
432:Water Utility Company servicing the region
327:Product differentiation between competitors
5413:Population and housing censuses by country
5103:
5089:
5081:
4436:
4422:
4414:
4297:Journal of Competition Law & Economics
3439:"Consumer Scores and Price Discrimination"
3010:, 8th Ed., McGraw-Hill Irwin, pp. 393-394.
2815:"When Is Price Discrimination Profitable?"
2737:: CS1 maint: location missing publisher (
691:of adding more consumers is less than the
4093:
4091:
3955:(2. ed.). Cambridge : Polity Press.
3791:
3789:
3462:
3250:
3240:
2838:
2612:. Stanford University Press. p. 77.
2585:. Stanford University Press. p. 78.
2379:. Harvard Business School Press. p.
2151:
2140:Procedia - Social and Behavioral Sciences
2074:. Stanford University Press. p. 74.
1697:Learn how and when to remove this message
1300:
1291:
1274:
1265:
1256:
1235:
1226:
1220:
1214:
1193:
1187:
1166:
1160:
1129:
1123:
1102:
1096:
1075:
1069:
1048:
1042:
975:
931:
902:
873:
850:
827:
798:
772:
734:
708:
80:Learn how and when to remove this message
5136:Estimates of historical world population
3188:– via University of Chicago Press.
3109:"8.4: Third-Degree Price Discrimination"
2316:. World Bank Publications. p. 378.
2250:William M. Pride; O. C. Ferrell (2011).
1893:product is sold at more than one price.
1439:by adding descriptive text and removing
336:
4098:DANZON, PATRICIA M. (1 November 1997).
3303:
3301:
2492:David K. Hayes; Allisha Miller (2011).
2409:Paul Belleflamme; Martin Peitz (2010).
2023:
369:Farmers selling vegetables at a market
4388:Price Discrimination for Digital Goods
4176:
3888:Collinson, Patrick (14 January 2017).
3669:Rampell, Catherine (3 December 2013).
3492:The Review of Economics and Statistics
3090:
3079:
2947:
2936:
2730:
2660:
2658:
2549:; Dan Richards; George Norman (2011).
2285:. Cambridge University Press. p.
2129:
2127:
2125:
1773:Companies will often offer discounted
154:by the more substantial difference in
109:about legal status of these practices.
4215:
4213:
4051:Dubner, Stephen J. (3 October 2011).
4023:Zuckerman, Michael (August 7, 2014).
3664:
3662:
3368:
3366:
3023:, 8th Ed., McGraw-Hill Irwin, p. 395.
2963:
2961:
2758:
2756:
2754:
2752:
2750:
2748:
2698:
2696:
2656:
2654:
2652:
2650:
2648:
2646:
2644:
2642:
2640:
2638:
2434:
2432:
2237:The Theory of Industrial Organization
2108:. John Wiley & Sons. p. 77.
1374:Disadvantages of price discrimination
308:Price discrimination and market power
7:
5569:
3135:"The Limits of Price Discrimination"
2498:. John Wiley and Sons. p. 115.
1631:adding citations to reliable sources
1546:This effect can lead to (seemingly)
567:User-controlled price discrimination
5505:Voluntary Human Extinction Movement
2555:. John Wiley and Sons. p. 87.
703:In the top diagram, a single price
443:Price discrimination in oligopolies
324:Number of competitors in the market
4992:Microfoundations of macroeconomics
3796:Bessendorf, Anna (December 2015).
3619:Luttmann, Alexander (2019-01-01).
3268:"Decoupling in electric utilities"
2189:10.1111/j.1465-7295.1991.tb01249.x
1957:Outline of industrial organization
1748:International price discrimination
1343:Advantages of price discrimination
25:
5397:Population and Development Review
3982:Review of Industrial Organization
3855:Paquette, Danielle (2021-11-25).
2371:Carl Shapiro; Hal Varian (1999).
2256:. Cengage Learning. p. 374.
507:Third degree (Market segregation)
490:Second degree (Quantity discount)
18:First degree price discrimination
5581:
5580:
5568:
5445:Population concern organizations
5151:Projections of population growth
5065:
5064:
5053:
4399:Discussion piece from The Filter
3695:karenbryson (19 February 2015).
3359:(3 ed.). London: Macmillan.
2767:. New York: PALGRAVE MACMILLAN.
2665:Marburger, Daniel (2012-08-09).
2609:Pricing and Revenue Optimization
2582:Pricing and Revenue Optimization
2522:Pricing and Revenue Optimization
2253:Foundations of Marketing, 5th ed
2071:Pricing and Revenue Optimization
1862:Concession and student discounts
1603:
1595:Incentives for industrial buyers
1412:
298:Digital Millennium Copyright Act
96:
41:
5546:Human impact on the environment
5480:Population Action International
3742:. 6 August 2013. Archived from
3272:Journal of Regulatory Economics
1937:Interstate Commerce Act of 1887
5495:United Nations Population Fund
3976:Waldfogel, Joel (2020-06-01).
3637:10.1016/j.ijindorg.2018.03.013
3486:Stavins, Joanna (2001-02-01).
3443:The Review of Economic Studies
1306:
1279:
1271:
1244:
913:
904:
884:
875:
806:
800:
716:
710:
283:Price discrimination requires
1:
4155:10.1016/j.econlet.2006.09.019
3925:10.1016/j.econlet.2017.11.026
3717:thebeijinger (18 June 2014).
3533:Dana Jr., J.D. (1998-04-01).
2974:The RAND Journal of Economics
2337:Dayen, David (July 9, 2024).
2134:Apollo, Michal (2014-03-19).
1312:{\displaystyle P_{1}/P_{2}=/}
460:Types of price discrimination
361:Homogenous goods and services
248:In a theoretical market with
3539:Journal of Political Economy
3266:Timothy J., Brennan (2010).
3072:Emerson, Patrick M. (2019).
3039:Information Systems Research
2453:10.1007/978-3-030-16465-2_14
2153:10.1016/j.sbspro.2014.02.119
403:Some product differentiation
5520:World Population Foundation
5510:World Population Conference
5423:World population milestones
4937:Civil engineering economics
4922:Statistical decision theory
4562:Income elasticity of demand
3398:Jing, Bing (30 June 2016).
3021:Microeconomics and Behavior
3008:Microeconomics and Behavior
2891:Corporate Finance Institute
2703:Allingham, Michael (1991).
2105:The Global Airline Industry
1781:to students and faculty at
1756:drugs in Africa. Since the
1461:Retail price discrimination
793:but below the demand curve
235:. Typical examples include
5628:
5392:Population and Environment
4572:Price elasticity of supply
4567:Price elasticity of demand
4557:Cross elasticity of demand
4238:10.1007/s00500-019-03760-7
3994:10.1007/s11151-020-09748-0
3598:10.1016/j.jebo.2012.09.022
3504:10.1162/rest.2001.83.1.200
1882:
1717:
1153:price elasticity of demand
1151:Given that Market 1 has a
379:Moderate competitor volume
164:elasticity of their demand
29:
5564:
5302:Human population planning
5126:Demographics of the world
5048:
3284:10.1007/s11149-010-9120-5
3019:Frank, Robert H. (2010):
3006:Frank, Robert H. (2010):
2917:. Cambridge, MA: w26794.
2763:Marshall, Alfred (2013).
2671:. Business Expert Press.
1900:Some companies have high
1007:{\displaystyle E,C,Q2,Q1}
963:{\displaystyle P1,B,Q1,O}
374:Monopolistic Competition
148:different market segments
5307:Compulsory sterilization
4628:Income–consumption curve
3139:American Economic Review
2606:Robert Phillips (2005).
2579:Robert Phillips (2005).
2519:Robert Phillips (2005).
2068:Robert Phillips (2005).
2046:(6th ed.). p.
1987:Resale price maintenance
1539:The Undercover Economist
146:by the same provider in
30:Not to be confused with
5249:Malthusian growth model
4962:Industrial organization
3697:"The "White Man's" Tax"
3671:"The Wedding Fix Is In"
2968:Corts, Kenneth (1998).
2790:"Rate fence definition"
2765:Principles of Economics
1831:Pharmaceutical industry
1441:less pertinent examples
760:{\displaystyle P,A,Q,O}
600:Complete discrimination
400:Small competitor volume
313:Degrees of market power
239:and seniors' discounts.
152:product differentiation
5376:Zero population growth
5371:Sustainable population
5295:Malthusian catastrophe
5254:Overshoot (population)
5131:Demographic transition
4408:Taken to the Cleaners?
3946:Pogge, Thomas (2008).
3416:10.1287/mnsc.2016.2463
3089:Cite journal requires
3051:10.1287/isre.1120.0434
2946:Cite journal requires
2831:10.1287/mnsc.1080.0979
2212:"Price Discrimination"
1646:"Price discrimination"
1313:
1203:
1176:
1139:
1112:
1085:
1058:
1030:
1008:
964:
920:
891:
862:
839:
813:
787:
761:
723:
661:
385:Low entry restrictions
382:Differentiated product
358:High competitor volume
107:is missing information
5485:Population Connection
5349:Mere addition paradox
5188:Physiological density
4932:Engineering economics
4527:Cost–benefit analysis
4309:10.1093/joclec/nhl013
3455:10.1093/restud/rdz046
3229:Theoretical Economics
3113:Social Sci LibreTexts
2677:10.4128/9781606493823
2277:Ruth Macklin (2004).
2235:Tirole, Jean (1988).
1714:Gender-based examples
1324:perfectly competitive
1314:
1204:
1202:{\displaystyle E_{2}}
1177:
1175:{\displaystyle E_{1}}
1140:
1138:{\displaystyle P_{b}}
1113:
1111:{\displaystyle P_{a}}
1086:
1084:{\displaystyle Q_{b}}
1059:
1057:{\displaystyle Q_{a}}
1028:
1009:
965:
921:
892:
863:
840:
814:
788:
762:
724:
659:
624:Indirect segmentation
364:No entry restrictions
294:intellectual property
5612:Monopoly (economics)
5515:World Population Day
5470:Church of Euthanasia
5359:Non-identity problem
5334:Political demography
5290:Human overpopulation
4749:Price discrimination
4643:Intertemporal choice
4397:Price Discrimination
3375:Managerial Economics
3357:Economics of Welfare
3355:Pigou, A.C. (1929).
3151:10.1257/aer.20130848
3074:"Pricing Strategies"
1627:improve this section
1213:
1186:
1159:
1122:
1095:
1068:
1041:
974:
930:
919:{\displaystyle (P2)}
901:
890:{\displaystyle (P1)}
872:
849:
826:
797:
771:
733:
707:
633:segments the buyers;
619:segments the buyers;
594:Managerial Economics
590:Economics of Welfare
353:Perfect Competition
215:one-to-one marketing
207:surveillance pricing
195:preferential pricing
185:differential pricing
133:Price discrimination
5364:Reproductive rights
5195:Population dynamics
5146:Population momentum
5060:Business portal
4997:Operations research
4824:Substitution effect
4379:Pricing Information
3174:Journal of Business
2210:Pettinger, Tejvan.
1992:Robinson–Patman Act
1962:Value-based pricing
1947:Market segmentation
1569:tourist attractions
1548:perverse incentives
1480:Saturday-night stay
1437:improve the article
1329:perfect competition
1035:profit maximization
812:{\displaystyle (D)}
786:{\displaystyle P,A}
722:{\displaystyle (P)}
610:Direct segmentation
390:Fast food industry
338:
285:market segmentation
254:perfect substitutes
250:perfect information
5490:Population Matters
5205:Population pyramid
5183:Population density
5178:Population decline
4638:Indifference curve
4606:Goods and services
4547:Economies of scope
4542:Economies of scale
3675:The New York Times
3404:Management Science
3373:Png, Ivan (1998).
3061:– via JSTOR.
2996:– via JSTOR.
2867:www.britannica.com
2819:Management Science
1997:Sliding scale fees
1972:Pricing strategies
1895:Congestion pricing
1885:Congestion pricing
1879:Congestion pricing
1806:Sliding scale fees
1801:Sliding scale fees
1368:congestion pricing
1309:
1199:
1172:
1135:
1108:
1081:
1054:
1031:
1004:
960:
916:
887:
868:). A higher price
861:{\displaystyle D2}
858:
838:{\displaystyle D1}
835:
809:
783:
757:
719:
685:economies of scale
662:
348:Industry Examples
337:
330:Entry restrictions
160:willingness to pay
60:You can assist by
32:Congestion pricing
5594:
5593:
5465:7 Billion Actions
5339:Population ethics
5232:Carrying capacity
5141:Population growth
5078:
5077:
5040:Political economy
4839:Supply and demand
4719:Pareto efficiency
4391:Arun Sundararajan
4143:Economics Letters
4116:10.1080/758523212
3913:Economics Letters
2716:978-1-349-21385-6
2686:978-1-60649-382-3
2619:978-0-8047-4698-4
2592:978-0-8047-4698-4
2562:978-1-118-13898-4
2532:978-0-8047-4698-4
2505:978-1-118-13692-8
2462:978-3-030-16464-5
2422:978-0-521-86299-8
2390:978-0-87584-863-1
2323:978-0-8213-4997-7
2296:978-0-521-54170-1
2263:978-1-111-58016-2
2115:978-0-470-74472-7
2081:978-0-8047-4698-4
1967:Pay what you want
1927:Frugal innovation
1822:Obstetric service
1707:
1706:
1699:
1681:
1573:disposable income
1458:
1457:
1397:Predatory pricing
1385:wealth inequality
573:pay what you want
471:reservation price
436:
435:
411:Airline industry
258:transaction costs
244:Theoretical basis
237:student discounts
130:
129:
90:
89:
82:
16:(Redirected from
5619:
5584:
5583:
5572:
5571:
5541:Green Revolution
5322:Two-child policy
5317:One-child policy
5240:
5200:Population model
5156:World population
5105:
5098:
5091:
5082:
5068:
5067:
5058:
5057:
4800:Returns to scale
4658:Market structure
4438:
4431:
4424:
4415:
4361:
4330:Health Economics
4320:
4282:
4281:
4279:
4278:
4264:
4258:
4257:
4232:(4): 2567–2588.
4217:
4208:
4204:
4198:
4195:
4189:
4188:
4182:
4174:
4134:
4128:
4127:
4095:
4086:
4085:
4083:
4081:
4076:. 7 January 2015
4070:
4064:
4063:
4061:
4059:
4048:
4042:
4041:
4039:
4037:
4020:
4014:
4013:
3973:
3967:
3966:
3954:
3943:
3937:
3936:
3904:
3898:
3897:
3885:
3879:
3878:
3876:
3875:
3852:
3846:
3843:
3837:
3834:
3828:
3825:
3816:
3815:
3813:
3811:
3802:
3793:
3784:
3774:
3768:
3762:
3756:
3755:
3753:
3751:
3736:
3730:
3729:
3727:
3725:
3714:
3708:
3707:
3705:
3703:
3692:
3686:
3685:
3683:
3681:
3666:
3657:
3656:
3616:
3610:
3609:
3577:
3571:
3570:
3530:
3524:
3523:
3483:
3477:
3476:
3466:
3434:
3428:
3427:
3410:(7): 2365–2376.
3395:
3389:
3388:
3370:
3361:
3360:
3352:
3346:
3345:
3314:Health Economics
3305:
3296:
3295:
3278:: 38(1), 49–69.
3263:
3257:
3256:
3254:
3244:
3235:(3): 1005–1052.
3220:
3214:
3213:
3211:
3210:
3196:
3190:
3189:
3169:
3163:
3162:
3130:
3124:
3123:
3121:
3120:
3105:
3099:
3098:
3092:
3087:
3085:
3077:
3069:
3063:
3062:
3030:
3024:
3017:
3011:
3004:
2998:
2997:
2965:
2956:
2955:
2949:
2944:
2942:
2934:
2916:
2907:
2901:
2900:
2898:
2897:
2883:
2877:
2876:
2874:
2873:
2859:
2853:
2852:
2842:
2810:
2804:
2803:
2801:
2800:
2785:
2779:
2778:
2760:
2743:
2742:
2736:
2728:
2700:
2691:
2690:
2662:
2633:
2630:
2624:
2623:
2603:
2597:
2596:
2576:
2567:
2566:
2543:
2537:
2536:
2516:
2510:
2509:
2489:
2480:
2479:
2478:
2477:
2436:
2427:
2426:
2406:
2395:
2394:
2378:
2368:
2353:
2352:
2350:
2349:
2334:
2328:
2327:
2307:
2301:
2300:
2284:
2274:
2268:
2267:
2247:
2241:
2240:
2232:
2226:
2225:
2223:
2222:
2207:
2201:
2200:
2177:Economic Inquiry
2172:
2166:
2165:
2155:
2131:
2120:
2119:
2099:
2086:
2085:
2065:
2052:
2051:
2045:
2036:Maurice Obstfeld
2032:Krugman, Paul R.
2028:
2012:Yield management
2007:Variable pricing
1769:Academic pricing
1758:purchasing power
1702:
1695:
1691:
1688:
1682:
1680:
1639:
1607:
1599:
1498:yield management
1453:
1450:
1444:
1416:
1415:
1408:
1355:natural monopoly
1318:
1316:
1315:
1310:
1305:
1304:
1295:
1278:
1270:
1269:
1260:
1240:
1239:
1230:
1225:
1224:
1208:
1206:
1205:
1200:
1198:
1197:
1182:and Market 2 of
1181:
1179:
1178:
1173:
1171:
1170:
1144:
1142:
1141:
1136:
1134:
1133:
1117:
1115:
1114:
1109:
1107:
1106:
1090:
1088:
1087:
1082:
1080:
1079:
1063:
1061:
1060:
1055:
1053:
1052:
1013:
1011:
1010:
1005:
969:
967:
966:
961:
925:
923:
922:
917:
896:
894:
893:
888:
867:
865:
864:
859:
844:
842:
841:
836:
818:
816:
815:
810:
792:
790:
789:
784:
766:
764:
763:
758:
728:
726:
725:
720:
666:consumer surplus
497:marginal utility
479:producer surplus
475:consumer surplus
339:
176:consumer surplus
140:pricing strategy
125:
122:
116:
100:
92:
85:
78:
74:
71:
65:
45:
44:
37:
21:
5627:
5626:
5622:
5621:
5620:
5618:
5617:
5616:
5597:
5596:
5595:
5590:
5560:
5524:
5458:
5456:
5449:
5401:
5380:
5329:Overconsumption
5312:Family planning
5269:
5263:
5236:
5220:
5217:
5209:
5171:
5168:
5160:
5114:
5109:
5079:
5074:
5052:
5044:
5011:
4890:
4532:Deadweight loss
4469:Consumer choice
4447:
4442:
4369:
4364:
4342:10.1002/hec.848
4323:
4290:
4286:
4285:
4276:
4274:
4266:
4265:
4261:
4219:
4218:
4211:
4205:
4201:
4196:
4192:
4175:
4136:
4135:
4131:
4097:
4096:
4089:
4079:
4077:
4072:
4071:
4067:
4057:
4055:
4050:
4049:
4045:
4035:
4033:
4022:
4021:
4017:
3975:
3974:
3970:
3963:
3952:
3945:
3944:
3940:
3906:
3905:
3901:
3887:
3886:
3882:
3873:
3871:
3861:Washington Post
3854:
3853:
3849:
3844:
3840:
3835:
3831:
3826:
3819:
3809:
3807:
3800:
3795:
3794:
3787:
3775:
3771:
3763:
3759:
3749:
3747:
3738:
3737:
3733:
3723:
3721:
3716:
3715:
3711:
3701:
3699:
3694:
3693:
3689:
3679:
3677:
3668:
3667:
3660:
3618:
3617:
3613:
3579:
3578:
3574:
3532:
3531:
3527:
3485:
3484:
3480:
3436:
3435:
3431:
3397:
3396:
3392:
3385:
3372:
3371:
3364:
3354:
3353:
3349:
3326:10.1002/hec.848
3307:
3306:
3299:
3265:
3264:
3260:
3222:
3221:
3217:
3208:
3206:
3198:
3197:
3193:
3171:
3170:
3166:
3132:
3131:
3127:
3118:
3116:
3107:
3106:
3102:
3088:
3078:
3071:
3070:
3066:
3032:
3031:
3027:
3018:
3014:
3005:
3001:
2986:10.2307/2555890
2967:
2966:
2959:
2945:
2935:
2914:
2909:
2908:
2904:
2895:
2893:
2885:
2884:
2880:
2871:
2869:
2861:
2860:
2856:
2812:
2811:
2807:
2798:
2796:
2794:AccountingTools
2788:Bragg, Steven.
2787:
2786:
2782:
2775:
2762:
2761:
2746:
2729:
2717:
2702:
2701:
2694:
2687:
2664:
2663:
2636:
2631:
2627:
2620:
2605:
2604:
2600:
2593:
2578:
2577:
2570:
2563:
2545:
2544:
2540:
2533:
2518:
2517:
2513:
2506:
2491:
2490:
2483:
2475:
2473:
2463:
2438:
2437:
2430:
2423:
2408:
2407:
2398:
2391:
2370:
2369:
2356:
2347:
2345:
2336:
2335:
2331:
2324:
2309:
2308:
2304:
2297:
2276:
2275:
2271:
2264:
2249:
2248:
2244:
2234:
2233:
2229:
2220:
2218:
2209:
2208:
2204:
2174:
2173:
2169:
2133:
2132:
2123:
2116:
2101:
2100:
2089:
2082:
2067:
2066:
2055:
2030:
2029:
2025:
2020:
1932:Geo (marketing)
1922:Dynamic pricing
1918:
1887:
1881:
1873:
1871:Counterexamples
1864:
1851:
1842:
1833:
1824:
1815:
1803:
1791:retail software
1771:
1750:
1722:
1716:
1703:
1692:
1686:
1683:
1640:
1638:
1624:
1608:
1597:
1581:
1565:amusement parks
1557:
1526:
1524:Premium pricing
1513:
1472:
1470:Travel industry
1463:
1454:
1448:
1445:
1434:
1417:
1413:
1406:
1376:
1345:
1340:
1322:The price in a
1296:
1261:
1231:
1216:
1211:
1210:
1189:
1184:
1183:
1162:
1157:
1156:
1125:
1120:
1119:
1098:
1093:
1092:
1071:
1066:
1065:
1044:
1039:
1038:
972:
971:
928:
927:
899:
898:
870:
869:
847:
846:
824:
823:
795:
794:
769:
768:
731:
730:
705:
704:
693:marginal profit
678:monopoly profit
670:monopoly profit
654:
640:
638:Uniform pricing
626:
612:
602:
586:
584:Modern taxonomy
569:
542:
526:two-part tariff
522:
520:Two-part tariff
509:
492:
483:deadweight loss
467:
462:
445:
406:Difficult entry
342:Type of Market
315:
310:
246:
172:deadweight loss
156:production cost
126:
120:
117:
110:
101:
86:
75:
69:
66:
59:
46:
42:
35:
28:
23:
22:
15:
12:
11:
5:
5625:
5623:
5615:
5614:
5609:
5599:
5598:
5592:
5591:
5589:
5588:
5578:
5565:
5562:
5561:
5559:
5558:
5556:Sustainability
5553:
5548:
5543:
5538:
5532:
5530:
5529:Related topics
5526:
5525:
5523:
5522:
5517:
5512:
5507:
5502:
5497:
5492:
5487:
5482:
5477:
5472:
5467:
5461:
5459:
5454:
5451:
5450:
5448:
5447:
5442:
5441:
5440:
5435:
5430:
5420:
5418:Largest cities
5415:
5409:
5407:
5403:
5402:
5400:
5399:
5394:
5388:
5386:
5382:
5381:
5379:
5378:
5373:
5368:
5367:
5366:
5361:
5356:
5351:
5346:
5336:
5331:
5326:
5325:
5324:
5319:
5314:
5309:
5299:
5298:
5297:
5287:
5279:
5273:
5271:
5265:
5264:
5262:
5261:
5256:
5251:
5246:
5241:
5238:I = P × A × T
5234:
5229:
5223:
5221:
5214:
5211:
5210:
5208:
5207:
5202:
5197:
5192:
5191:
5190:
5180:
5174:
5172:
5165:
5162:
5161:
5159:
5158:
5153:
5148:
5143:
5138:
5133:
5128:
5122:
5120:
5116:
5115:
5110:
5108:
5107:
5100:
5093:
5085:
5076:
5075:
5073:
5072:
5062:
5049:
5046:
5045:
5043:
5042:
5037:
5035:Macroeconomics
5032:
5031:
5030:
5019:
5017:
5013:
5012:
5010:
5009:
5004:
4999:
4994:
4989:
4984:
4979:
4974:
4969:
4964:
4959:
4954:
4949:
4944:
4939:
4934:
4929:
4924:
4919:
4914:
4909:
4904:
4898:
4896:
4892:
4891:
4889:
4888:
4883:
4882:
4881:
4876:
4866:
4861:
4860:
4859:
4850:
4836:
4831:
4826:
4821:
4812:
4807:
4802:
4797:
4792:
4787:
4782:
4777:
4772:
4771:
4770:
4765:
4756:
4751:
4746:
4741:
4736:
4734:Price controls
4726:
4721:
4716:
4715:
4714:
4709:
4704:
4699:
4698:
4697:
4692:
4682:
4677:
4676:
4675:
4670:
4655:
4653:Market failure
4650:
4645:
4640:
4635:
4630:
4625:
4620:
4619:
4618:
4613:
4603:
4598:
4593:
4588:
4587:
4586:
4576:
4575:
4574:
4569:
4564:
4559:
4549:
4544:
4539:
4534:
4529:
4524:
4523:
4522:
4517:
4512:
4507:
4506:
4505:
4495:
4490:
4480:
4471:
4466:
4461:
4455:
4453:
4449:
4448:
4445:Microeconomics
4443:
4441:
4440:
4433:
4426:
4418:
4412:
4411:
4405:
4400:
4394:
4385:
4376:
4368:
4367:External links
4365:
4363:
4362:
4336:(6): 597–604.
4321:
4303:(3): 479–531.
4287:
4284:
4283:
4259:
4226:Soft Computing
4209:
4199:
4190:
4129:
4110:(3): 301–322.
4087:
4065:
4043:
4015:
3988:(4): 593–613.
3968:
3962:978-0745641447
3961:
3938:
3899:
3880:
3847:
3838:
3829:
3817:
3785:
3769:
3757:
3746:on 5 July 2017
3731:
3709:
3687:
3658:
3611:
3592:(3): 801–812.
3572:
3551:10.1086/250014
3545:(2): 395–422.
3525:
3498:(1): 200–202.
3478:
3449:(2): 750–791.
3429:
3390:
3383:
3362:
3347:
3320:(6): 597–604.
3297:
3258:
3242:10.3982/TE1904
3215:
3204:Tripadvisor.au
3191:
3186:10.1086/296384
3164:
3145:(3): 921–957.
3125:
3100:
3091:|journal=
3064:
3045:(2): 418–435.
3025:
3012:
2999:
2980:(2): 306–323.
2957:
2948:|journal=
2923:10.3386/w26794
2902:
2887:"Market Power"
2878:
2854:
2825:(6): 980–989.
2805:
2780:
2773:
2744:
2715:
2692:
2685:
2634:
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2396:
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2242:
2227:
2216:Economics Help
2202:
2167:
2121:
2114:
2087:
2080:
2053:
2022:
2021:
2019:
2016:
2015:
2014:
2009:
2004:
1999:
1994:
1989:
1984:
1979:
1977:Ramsey problem
1974:
1969:
1964:
1959:
1954:
1952:Microeconomics
1949:
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1939:
1934:
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1924:
1917:
1914:
1883:Main article:
1880:
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1829:
1823:
1820:
1814:
1811:
1802:
1799:
1795:vendor lock-in
1770:
1767:
1754:antiretroviral
1749:
1746:
1718:Main article:
1715:
1712:
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1704:
1611:
1609:
1602:
1596:
1593:
1580:
1577:
1561:movie theaters
1556:
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1512:
1509:
1471:
1468:
1462:
1459:
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1047:
1003:
1000:
997:
994:
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988:
985:
982:
979:
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956:
953:
950:
947:
944:
941:
938:
935:
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886:
883:
880:
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857:
854:
834:
831:
808:
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802:
782:
779:
776:
756:
753:
750:
747:
744:
741:
738:
718:
715:
712:
687:mean that the
653:
650:
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639:
636:
635:
634:
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607:
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601:
598:
585:
582:
568:
565:
564:
563:
560:
556:
552:
549:
541:
538:
534:shaving razors
521:
518:
508:
505:
491:
488:
466:
463:
461:
458:
444:
441:
434:
433:
430:
429:
428:
425:
424:No substitutes
422:
417:
413:
412:
409:
408:
407:
404:
401:
396:
392:
391:
388:
387:
386:
383:
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332:
331:
328:
325:
314:
311:
309:
306:
245:
242:
241:
240:
229:
218:
203:tiered pricing
191:equity pricing
128:
127:
121:September 2024
104:
102:
95:
88:
87:
49:
47:
40:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
5624:
5613:
5610:
5608:
5605:
5604:
5602:
5587:
5579:
5577:
5576:
5567:
5566:
5563:
5557:
5554:
5552:
5549:
5547:
5544:
5542:
5539:
5537:
5536:Bennett's law
5534:
5533:
5531:
5527:
5521:
5518:
5516:
5513:
5511:
5508:
5506:
5503:
5501:
5498:
5496:
5493:
5491:
5488:
5486:
5483:
5481:
5478:
5476:
5473:
5471:
5468:
5466:
5463:
5462:
5460:
5457:organizations
5452:
5446:
5443:
5439:
5436:
5434:
5431:
5429:
5426:
5425:
5424:
5421:
5419:
5416:
5414:
5411:
5410:
5408:
5404:
5398:
5395:
5393:
5390:
5389:
5387:
5383:
5377:
5374:
5372:
5369:
5365:
5362:
5360:
5357:
5355:
5352:
5350:
5347:
5345:
5342:
5341:
5340:
5337:
5335:
5332:
5330:
5327:
5323:
5320:
5318:
5315:
5313:
5310:
5308:
5305:
5304:
5303:
5300:
5296:
5293:
5292:
5291:
5288:
5286:
5284:
5280:
5278:
5275:
5274:
5272:
5266:
5260:
5257:
5255:
5252:
5250:
5247:
5245:
5244:Kaya identity
5242:
5239:
5235:
5233:
5230:
5228:
5225:
5224:
5222:
5219:
5212:
5206:
5203:
5201:
5198:
5196:
5193:
5189:
5186:
5185:
5184:
5181:
5179:
5176:
5175:
5173:
5170:
5163:
5157:
5154:
5152:
5149:
5147:
5144:
5142:
5139:
5137:
5134:
5132:
5129:
5127:
5124:
5123:
5121:
5117:
5113:
5106:
5101:
5099:
5094:
5092:
5087:
5086:
5083:
5071:
5063:
5061:
5056:
5051:
5050:
5047:
5041:
5038:
5036:
5033:
5029:
5026:
5025:
5024:
5021:
5020:
5018:
5014:
5008:
5005:
5003:
5000:
4998:
4995:
4993:
4990:
4988:
4985:
4983:
4980:
4978:
4975:
4973:
4970:
4968:
4967:Institutional
4965:
4963:
4960:
4958:
4955:
4953:
4950:
4948:
4945:
4943:
4940:
4938:
4935:
4933:
4930:
4928:
4925:
4923:
4920:
4918:
4915:
4913:
4912:Computational
4910:
4908:
4905:
4903:
4900:
4899:
4897:
4893:
4887:
4884:
4880:
4877:
4875:
4872:
4871:
4870:
4867:
4865:
4862:
4858:
4857:Law of supply
4854:
4851:
4849:
4848:Law of demand
4845:
4842:
4841:
4840:
4837:
4835:
4834:Social choice
4832:
4830:
4827:
4825:
4822:
4820:
4819:Excess supply
4816:
4813:
4811:
4808:
4806:
4805:Risk aversion
4803:
4801:
4798:
4796:
4793:
4791:
4788:
4786:
4783:
4781:
4778:
4776:
4773:
4769:
4766:
4764:
4760:
4757:
4755:
4752:
4750:
4747:
4745:
4742:
4740:
4739:Price ceiling
4737:
4735:
4732:
4731:
4730:
4727:
4725:
4722:
4720:
4717:
4713:
4710:
4708:
4705:
4703:
4700:
4696:
4695:Complementary
4693:
4691:
4688:
4687:
4686:
4683:
4681:
4678:
4674:
4671:
4669:
4666:
4665:
4664:
4661:
4660:
4659:
4656:
4654:
4651:
4649:
4646:
4644:
4641:
4639:
4636:
4634:
4631:
4629:
4626:
4624:
4621:
4617:
4614:
4612:
4609:
4608:
4607:
4604:
4602:
4599:
4597:
4594:
4592:
4589:
4585:
4582:
4581:
4580:
4577:
4573:
4570:
4568:
4565:
4563:
4560:
4558:
4555:
4554:
4553:
4550:
4548:
4545:
4543:
4540:
4538:
4535:
4533:
4530:
4528:
4525:
4521:
4518:
4516:
4513:
4511:
4508:
4504:
4501:
4500:
4499:
4496:
4494:
4491:
4489:
4486:
4485:
4484:
4481:
4479:
4478:non-convexity
4475:
4472:
4470:
4467:
4465:
4462:
4460:
4457:
4456:
4454:
4450:
4446:
4439:
4434:
4432:
4427:
4425:
4420:
4419:
4416:
4409:
4406:
4404:
4401:
4398:
4395:
4392:
4389:
4386:
4383:
4380:
4377:
4374:
4371:
4370:
4366:
4359:
4355:
4351:
4347:
4343:
4339:
4335:
4331:
4327:
4322:
4318:
4314:
4310:
4306:
4302:
4298:
4294:
4289:
4288:
4273:
4269:
4263:
4260:
4255:
4251:
4247:
4243:
4239:
4235:
4231:
4227:
4223:
4216:
4214:
4210:
4203:
4200:
4194:
4191:
4186:
4180:
4172:
4168:
4164:
4160:
4156:
4152:
4148:
4144:
4140:
4133:
4130:
4125:
4121:
4117:
4113:
4109:
4105:
4101:
4094:
4092:
4088:
4075:
4069:
4066:
4054:
4047:
4044:
4032:
4031:
4026:
4019:
4016:
4011:
4007:
4003:
3999:
3995:
3991:
3987:
3983:
3979:
3972:
3969:
3964:
3958:
3951:
3950:
3942:
3939:
3934:
3930:
3926:
3922:
3918:
3914:
3910:
3903:
3900:
3895:
3891:
3884:
3881:
3870:
3866:
3862:
3858:
3851:
3848:
3842:
3839:
3833:
3830:
3824:
3822:
3818:
3806:
3799:
3792:
3790:
3786:
3782:
3778:
3773:
3770:
3766:
3765:See generally
3761:
3758:
3745:
3741:
3735:
3732:
3720:
3713:
3710:
3698:
3691:
3688:
3676:
3672:
3665:
3663:
3659:
3654:
3650:
3646:
3642:
3638:
3634:
3630:
3626:
3622:
3615:
3612:
3607:
3603:
3599:
3595:
3591:
3587:
3583:
3576:
3573:
3568:
3564:
3560:
3556:
3552:
3548:
3544:
3540:
3536:
3529:
3526:
3521:
3517:
3513:
3509:
3505:
3501:
3497:
3493:
3489:
3482:
3479:
3474:
3470:
3465:
3464:1721.1/129703
3460:
3456:
3452:
3448:
3444:
3440:
3433:
3430:
3425:
3421:
3417:
3413:
3409:
3405:
3401:
3394:
3391:
3386:
3384:1-55786-927-8
3380:
3376:
3369:
3367:
3363:
3358:
3351:
3348:
3343:
3339:
3335:
3331:
3327:
3323:
3319:
3315:
3311:
3304:
3302:
3298:
3293:
3289:
3285:
3281:
3277:
3273:
3269:
3262:
3259:
3253:
3248:
3243:
3238:
3234:
3230:
3226:
3219:
3216:
3205:
3201:
3195:
3192:
3187:
3183:
3179:
3175:
3168:
3165:
3160:
3156:
3152:
3148:
3144:
3140:
3136:
3129:
3126:
3114:
3110:
3104:
3101:
3096:
3083:
3075:
3068:
3065:
3060:
3056:
3052:
3048:
3044:
3040:
3036:
3029:
3026:
3022:
3016:
3013:
3009:
3003:
3000:
2995:
2991:
2987:
2983:
2979:
2975:
2971:
2964:
2962:
2958:
2953:
2940:
2932:
2928:
2924:
2920:
2913:
2906:
2903:
2892:
2888:
2882:
2879:
2868:
2864:
2858:
2855:
2850:
2846:
2841:
2836:
2832:
2828:
2824:
2820:
2816:
2809:
2806:
2795:
2791:
2784:
2781:
2776:
2774:9780230249271
2770:
2766:
2759:
2757:
2755:
2753:
2751:
2749:
2745:
2740:
2734:
2726:
2722:
2718:
2712:
2708:
2707:
2699:
2697:
2693:
2688:
2682:
2678:
2674:
2670:
2669:
2661:
2659:
2657:
2655:
2653:
2651:
2649:
2647:
2645:
2643:
2641:
2639:
2635:
2629:
2626:
2621:
2615:
2611:
2610:
2602:
2599:
2594:
2588:
2584:
2583:
2575:
2573:
2569:
2564:
2558:
2554:
2553:
2548:
2542:
2539:
2534:
2528:
2524:
2523:
2515:
2512:
2507:
2501:
2497:
2496:
2488:
2486:
2482:
2472:
2468:
2464:
2458:
2454:
2450:
2446:
2442:
2435:
2433:
2429:
2424:
2418:
2414:
2413:
2405:
2403:
2401:
2397:
2392:
2386:
2382:
2377:
2376:
2367:
2365:
2363:
2361:
2359:
2355:
2344:
2340:
2333:
2330:
2325:
2319:
2315:
2314:
2306:
2303:
2298:
2292:
2288:
2283:
2282:
2273:
2270:
2265:
2259:
2255:
2254:
2246:
2243:
2238:
2231:
2228:
2217:
2213:
2206:
2203:
2198:
2194:
2190:
2186:
2182:
2178:
2171:
2168:
2163:
2159:
2154:
2149:
2145:
2141:
2137:
2130:
2128:
2126:
2122:
2117:
2111:
2107:
2106:
2098:
2096:
2094:
2092:
2088:
2083:
2077:
2073:
2072:
2064:
2062:
2060:
2058:
2054:
2049:
2044:
2043:
2037:
2033:
2027:
2024:
2017:
2013:
2010:
2008:
2005:
2003:
2002:Ticket resale
2000:
1998:
1995:
1993:
1990:
1988:
1985:
1983:
1980:
1978:
1975:
1973:
1970:
1968:
1965:
1963:
1960:
1958:
1955:
1953:
1950:
1948:
1945:
1943:
1940:
1938:
1935:
1933:
1930:
1928:
1925:
1923:
1920:
1919:
1915:
1913:
1909:
1907:
1906:rolling stock
1903:
1898:
1896:
1892:
1886:
1878:
1876:
1870:
1868:
1861:
1859:
1857:
1848:
1846:
1839:
1837:
1830:
1828:
1821:
1819:
1812:
1810:
1807:
1800:
1798:
1796:
1792:
1788:
1784:
1780:
1776:
1768:
1766:
1762:
1759:
1755:
1747:
1745:
1741:
1737:
1735:
1730:
1726:
1721:
1713:
1711:
1701:
1698:
1690:
1679:
1676:
1672:
1669:
1665:
1662:
1658:
1655:
1651:
1648: –
1647:
1643:
1642:Find sources:
1636:
1632:
1628:
1622:
1621:
1617:
1612:This section
1610:
1606:
1601:
1600:
1594:
1592:
1590:
1586:
1578:
1576:
1574:
1570:
1566:
1562:
1554:
1552:
1549:
1544:
1541:
1540:
1535:
1531:
1530:marginal cost
1523:
1521:
1517:
1510:
1508:
1505:
1501:
1499:
1494:
1488:
1484:
1481:
1476:
1469:
1467:
1460:
1452:
1442:
1438:
1432:
1430:
1426:
1421:This article
1419:
1410:
1409:
1403:
1398:
1395:
1392:
1389:
1386:
1382:
1378:
1377:
1373:
1371:
1369:
1360:
1359:honest signal
1356:
1351:
1347:
1346:
1342:
1337:
1335:
1332:
1330:
1325:
1320:
1301:
1297:
1292:
1288:
1285:
1282:
1275:
1266:
1262:
1257:
1253:
1250:
1247:
1241:
1236:
1232:
1227:
1221:
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5344:Antinatalism
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5259:World3 model
5119:Major topics
5002:Optimization
4987:Mathematical
4947:Experimental
4942:Evolutionary
4927:Econometrics
4785:Public goods
4759:Price system
4754:Price signal
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4668:Monopolistic
4537:Distribution
4452:Major topics
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5268:Society and
5227:Biocapacity
4952:Game theory
4917:Development
4864:Uncertainty
4744:Price floor
4724:Preferences
4663:Competition
4633:Information
4596:Externality
4579:Equilibrium
4520:Transaction
4498:Opportunity
4459:Aggregation
3919:: 172–174.
3631:: 291–329.
2840:10419/38645
2343:jacobin.com
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1902:fixed costs
1534:Tim Harford
652:Explanation
555:elsewhere).
540:Combination
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5270:population
5216:Population
5167:Population
5112:Population
4982:Managerial
4902:Behavioral
4775:Production
4712:Oligopsony
4552:Elasticity
4464:Budget set
4382:Hal Varian
4375:Lars Stole
4277:2023-04-21
4036:4 December
3874:2023-08-07
3810:August 25,
3209:2023-04-21
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2799:2023-04-21
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2709:. London.
2476:2023-04-21
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2221:2023-04-21
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1787:university
1734:gender tax
1657:newspapers
1429:irrelevant
676:, but not
631:indirectly
395:Oligopoly
290:rate fence
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5551:Migration
5428:6 billion
5023:Economics
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4707:Oligopoly
4702:Monopsony
4690:Bilateral
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4474:Convexity
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