Loss Aversion and the Uniform Pricing Puzzle for Vertically Dierentiated Products
作者： Javad Nasiry , Pascal Courty , Pascal Courty , Pascal Courty
DOI:
关键词: Consumption (economics) 、 Quality (business) 、 Mobile apps 、 Novelty 、 Uniform pricing 、 Shock (economics) 、 Database transaction 、 Economics 、 Microeconomics 、 Loss aversion
摘要: The uniform pricing puzzle for vertically dierentiated products states that a monopolist sells high and low quality at the same price despite fact is perfectly observable there are no signicant costs of adjusting prices. relevant movies, books, music, mobile apps, among others. We show can be resolved by accounting consumer loss aversion in monetary consumption utilities assuming consumers face random utility shock. novelty our approach reference transaction endogenously set as part ‘personal equilibrium’ includes only past purchases quality.
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