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A dynamic model of price discrimination and inventory management at the Fulton fish market

Author: Kathryn Jo Graddy; George J Hall; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, ©2009.
Series: Working paper series (National Bureau of Economic Research), no. 15019.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
We estimate a dynamic profit-maximization model of a fish wholesaler who can observe consumer characteristics, set individual prices, and thus engage in third-degree price discrimination. Simulated prices and quantities from the model exhibit the key features observed in a set of high quality transaction-level data on fish sales collected at the Fulton fish market. The model's predictions are then compared to the  Read more...
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Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Kathryn Jo Graddy; George J Hall; National Bureau of Economic Research.
OCLC Number: 369163392
Notes: "May 2009."
Description: 1 online resource (28 p.) : ill., digital.
Series Title: Working paper series (National Bureau of Economic Research), no. 15019.
Responsibility: Kathryn Graddy, George Hall.

Abstract:

We estimate a dynamic profit-maximization model of a fish wholesaler who can observe consumer characteristics, set individual prices, and thus engage in third-degree price discrimination. Simulated prices and quantities from the model exhibit the key features observed in a set of high quality transaction-level data on fish sales collected at the Fulton fish market. The model's predictions are then compared to the case in which the dealer must post a single price to all customers. We find the cost to the dealer of posting a uniform price to be extremely small.

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Linked Data


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