Competition in Posted Prices with Stochastic Discounts
研究了当部分消费者可能随机获得折扣时，企业之间的标价竞争，发现随机折扣会削弱竞争压力、提高价格和利润，但降低福利并促进合谋。
We study price competition between firms over public list or posted prices when a fraction of consumers can subsequently receive discounts with some probability. Such stochastic discounts are a feature of markets in which some consumers bargain explicitly and of markets in which sellers use the marketing practice of couponing. Even though bargainers receive reductions off the posted prices, the potential to discount dampens competitive pressure in the market, thus raising all prices and increasing profits. Welfare falls because of the stochastic nature of the discounts, which generates some misallocation of products to consumers. Stochastic discounts facilitate collusion by reducing the market share that can be gained from a deviation. \n \n