Intertemporal Price Discrimination and Sticky Prices
证明潜在进入导致边际收益低于边际成本的定价规则,而自愿积累库存则导致跨期价格歧视规则,为正常成本定价提供了形式化解释。推导出企业组的均衡条件,可写为线性估计方程,回归系数与市场结构参数直接关联,表明在更集中的行业中,成本上升的传导更不完全,而需求变化的传导更完全。
It is shown that potential entry leads to a marginal-revenue-below-marginal-cost\nrule, while the possibility of building up inventories (voluntarily!) leads to the intertemporal\nprice discrimination rule, which provides a formal rationalization for normal\ncosting. Equilibrium conditions for a group of firms are derived, using the intertemporal\ndiscrimination rule. These conditions can be written as linear estimating equations,\nwith regression coefficients explicitly linked with parameters representing market\nstructure. They imply that, in more concentrated industries, cost increases are less fully\ntransmitted and changes in demand are more fully transmitted into prices than in less\nconcentrated industries.