Durable Good Monopoly and Best-Price Provisions
研究耐用品垄断者如何通过最优价格条款（保证买家获得最低价）实现与租赁或数量承诺合同相同的利润，并讨论其在商品协议、发电机市场和金融索赔中的应用。
Best-price provisions guarantee buyers that the prices they pay are the lowest available. If the seller subsequently cuts price, then each previous buyer is entitled to a refund. A durable-good monopolist who offers certain forms of these provisions can construct a consistent plan yielding the same profits as rental agreements and contracts with explicit quantity commitments. The provisions require special circumstances to be practical, but they are simple and effective and appear in a variety of economic settings. Three applications are discussed: international commodity agreements, markets for electric turbogenerators, and markets for financial claims. Copyright 1990 by American Economic Association.