Bounded rationality and industrial organization:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Oxford [u.a.]
Oxford Univ. Press
2011
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Literaturverz. S. 213-218 Includes bibliographical references and index |
| Physical Description: | IX, 222 S. |
| ISBN: | 9780195398717 |
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| 245 | 1 | 0 | |a Bounded rationality and industrial organization |c Ran Spiegler |
| 264 | 1 | |a Oxford [u.a.] |b Oxford Univ. Press |c 2011 | |
| 300 | |a IX, 222 S. | ||
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| 337 | |b n |2 rdamedia | ||
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| 500 | |a Literaturverz. S. 213-218 | ||
| 500 | |a Includes bibliographical references and index | ||
| 650 | 4 | |a Psychologie | |
| 650 | 4 | |a Consumer behavior | |
| 650 | 4 | |a Decision making | |
| 650 | 4 | |a Consumption (Economics) |x Psychological aspects | |
| 650 | 4 | |a Industrial organization (Economic theory) | |
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Record in the Search Index
| _version_ | 1804143875264086016 |
|---|---|
| adam_text | CONTENTS
Preface
їх
1
Introduction
1
1.1
Bibliographic Notes
7
part one
■
Anticipating Future Preferences
2
Dynamically Inconsistent Preferences I: Unconstrained
Contracting
1
1
2.1
The Multi-Selves Model
12
2.1.1
Naivete
13
2.2
Monopoly Pricing
14
2.2.1
Optimal Price Schemes for Sophisticated Consumers
15
2.2.2
Optimal Price Schemes for Naive Consumers
15
2.2.3
Screening the Consumer s Type
18
2.3
Competitive Pricing
18
2.4
Welfare Analysis
20
2.5
Educating Naive Consumers
21
2.6
The Interpretation of Naivete
22
2.7
Two Applications
23
2.8
Other Topics
25
2.8.1
The
(β,
8)
Model
25
2.8.2
Preference Heterogeneity
26
2.9
Summary
28
2.10
Bibliographic Notes
28
3
Dynamically Inconsistent Preferences II: Constrained
Contracting
30
3.1
Two-Part Tariffs
30
3.1.1
Departure from Marginal-Cost Pricing
31
3.1.2
Welfare Analysis
33
3.2
Destabilization of Commitment Devices: Renegotiation and
Spot Market Competition
34
3.3
Self-Control
36
3.3.1
Implications for Monopoly Pricing
39
3.3.2
Do Self-Control Costs Hamper Competition?
40
3.4
Summary
41
3.5
Bibliographic Notes
42
vi
■ Contents
4
Dynamically Inconsistent Preferences III: Partial Naivete
43
4.1
Magnitude Naivete
43
4.1.1
Monopoly Pricing
43
4.1.2
Are More Sophisticated Consumers Always Better Off?
45
4.2
Frequency Naivete
46
4.2.1
First-Best Monopoly Pricing
47
4.2.2
Second-Best Monopoly Pricing
48
4.2.3
Does Competition Curb Exploitation?
51
4.3
Summary
52
4.4
Bibliographic Notes
52
5
Biased Beliefs without Dynamic Inconsistency
53
5.1
Monopoly Pricing with Over-Optimistic Consumers
54
5.1.1
Comparison with Related Models
57
5.2
Overconfidence: Three-Part Tariffs
60
5.3
Unforeseen Contingencies: Add-On Pricing
62
5.4
A Summary Exercise: Insurance Markets with Biased
Consumers
67
5.4.1
Equilibrium Analysis When Subjective Beliefs
Are Observable
69
5.4.2
Equilibrium Analysis When Subjective Beliefs Are
Private Information
70
5.5
Summary
73
5.6
Bibliographic Notes
73
part two
■
Responding to Market Complexity
6
Sampling-Based Reasoning I: Price Competition and
Product Differentiation
77
6.1
A Sampling-Based Choice Procedure
77
6.2
Price Competition and Technology Adoption
78
6.2.1
Nash Equilibrium
80
6.2.2
Welfare Analysis
82
6.3
Spurious Product Differentiation
84
6.3.1
Nash Equilibrium
85
6.3.2
Product Complexity as a Differentiation Device
86
6.4
Can the Market Educate Consumers?
90
6.5
Summary
92
6.6
Bibliographic Notes
92
7
Sampling-Based Reasoning II: Obfuscation
94
7.1
A Model of Competitive Obfuscation
94
7.1.1
Nash Equilibrium
96
7.1.2
Welfare Analysis
100
7.2
Production Inefficiencies
100
7.3
Multi-Dimensional Prices
103
Contents ■
vìi
7.4
A
Market Intervention:
Introducing
Simple
Options
104
7.5
Summary
Ю7
7.6
Bibliographic Notes
108
8
Coarse Reasoning q
8.1
A Modeling Framework
110
8.2
Complex Price Patterns as a Discrimination Device
112
8.2.1
DeBruijn Price Sequences
114
8.2.2
Conditions for Profitability of Complex
Price Patterns
115
8.3
Limited Understanding of Adverse Selection
118
8.3.1
A Buyer-Seller Example
119
8.3.2
A Benchmark: A Bayesian-Rational Buyer
120
8.3.3
A Coarse Buyer
120
8.3.4
Action-Dependent Feedback
122
8.4
Summary
123
8.5
Bibliographic Notes
124
part three
■
Reference Dependence
9
Loss Aversion
127
9.1
Expected Price as a Reference Point: Monopoly Pricing
128
9.1.1
Reduced Price Variability
130
9.1.2
Impact on Average Prices
134
9.2
Price Uniformity in a Duopoly Setting: Kinked Demand
135
9.3
Expected Consumption as a Reference Point: An
Attachment Effect
138
9.3.1
Personal Equilibrium
139
9.3.2
Price Randomization
141
9.4
Discussion
143
9.4.1
Actual Prices as Reference Points
143
9.4.2
Pleasant Surprises
144
9.5
Summary
145
9.6
Bibliographic Notes
146
10
Inertia I: Price Competition
147
10.1
Price Competition under Consumer Inertia
148
10.2
Price-Frame Competition
151
10.2.1
Nash Equilibrium
153
10.2.2
Equilibrium Properties
157
10.2.3
Two Market Interventions
158
10.3
Consumer Switching
159
10.4
Asymmetric Default Assignment
160
10.5
A Few General Remarks
161
10.5.1
More Than Two Frames
161
10.5.2
Revealed Preferences
163
/iii
■
Contents
10.6
Summary
163
10.7
Bibliographic Notes
164
11
Inertia II: Costly Marketing
166
11.1
A Model of Competitive Marketing
167
11.2
Nash Equilibrium
170
11.3
The Effective Marketing Property
176
11.4
Discussion
178
11.5
Summary
180
11.6
Bibliographic Notes
180
PART
FOUR
■
Discussion
12
Recurring Themes
183
12.1
Complex Pricing Strategies
183
12.2
Spurious Variety
184
12.3
Market Transactions as a Form of Speculative Trade
185
12.4
How Effective Are Competition and Consumer
Protection Policies?
186
12.5
Externalities between Rational and Boundedly
Rational Consumers
187
12.6
Conclusion
187
13
But Can t We Get the Same Thing with a Standard Model?
188
13.1
Rationalization via Modified Information
190
13.2
Rationalization via Modified Preferences
194
13.3
Rationalization via Endogenization
196
13.4
Discussion
199
13.5
Epilogue
200
13.6
Bibliographic Notes
201
A
Appendix to Part I: A Decision-Theoretic Perspective
202
A.I The Multi-Selves Model
202
A.2 Self-Control Preferences
204
A.3 The Relation between Self-Control Preferences and the
Multi-Selves Model
208
A.4 Other Classes of Temptation-Driven Preferences
210
A.5 Bibliographic Notes
211
Bibliography
213
Index
219
|
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| discipline | Wirtschaftswissenschaften Ökotrophologie |
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| indexdate | 2024-07-09T22:54:36Z |
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| language | English |
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| physical | IX, 222 S. |
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| spelling | Spiegler, Ran 1972- Verfasser (DE-588)129666130 aut Bounded rationality and industrial organization Ran Spiegler Oxford [u.a.] Oxford Univ. Press 2011 IX, 222 S. txt rdacontent n rdamedia nc rdacarrier Literaturverz. S. 213-218 Includes bibliographical references and index Psychologie Consumer behavior Decision making Consumption (Economics) Psychological aspects Industrial organization (Economic theory) Verbraucherverhalten (DE-588)4062644-1 gnd rswk-swf Eingeschränkte Rationalität (DE-588)4403080-0 gnd rswk-swf Verbraucherverhalten (DE-588)4062644-1 s Eingeschränkte Rationalität (DE-588)4403080-0 s DE-604 Digitalisierung UB Bayreuth application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=021170626&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Spiegler, Ran 1972- Bounded rationality and industrial organization Psychologie Consumer behavior Decision making Consumption (Economics) Psychological aspects Industrial organization (Economic theory) Verbraucherverhalten (DE-588)4062644-1 gnd Eingeschränkte Rationalität (DE-588)4403080-0 gnd |
| subject_GND | (DE-588)4062644-1 (DE-588)4403080-0 |
| title | Bounded rationality and industrial organization |
| title_auth | Bounded rationality and industrial organization |
| title_exact_search | Bounded rationality and industrial organization |
| title_full | Bounded rationality and industrial organization Ran Spiegler |
| title_fullStr | Bounded rationality and industrial organization Ran Spiegler |
| title_full_unstemmed | Bounded rationality and industrial organization Ran Spiegler |
| title_short | Bounded rationality and industrial organization |
| title_sort | bounded rationality and industrial organization |
| topic | Psychologie Consumer behavior Decision making Consumption (Economics) Psychological aspects Industrial organization (Economic theory) Verbraucherverhalten (DE-588)4062644-1 gnd Eingeschränkte Rationalität (DE-588)4403080-0 gnd |
| topic_facet | Psychologie Consumer behavior Decision making Consumption (Economics) Psychological aspects Industrial organization (Economic theory) Verbraucherverhalten Eingeschränkte Rationalität |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=021170626&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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