PAYING FOR LOYALTY: PRODUCT BUNDLING IN OLIGOPOLY*
研究了零售商通过捆绑折扣吸引顾客，发现这种策略虽让合作企业获利，但损害了其他企业和偏好差异大的消费者，最终导致消费者选择次优品牌组合。
In recent times, pairs of retailers such as supermarket and retail gasoline chains have offered bundled discounts to customers who buy their respective product brands. These discounts are a fixed amount off the headline prices that allied brands continue to set independently. We show that a pair of firms can profit from offering a bundled discount to the detriment of other firms and consumers whose preferences are farther removed from the bundled brands. Indeed, when both pairs of firms negotiate bundling arrangements, there are no beneficiaries and consumers simply find themselves consuming a sub-optimal brand mix.