【主讲】Gong Qiang (China Center for Economic Research, Peking University)
【主题】Dynamic Monopoly Pricing in Finite and Infinite Periods
【时间】2011年4月12日 (周二) 15：30-17：00
【地点】上海财经大学经济学院楼710室
【语言】英文
【摘要】This paper studies the finite horizon case of durable monopoly with different frequencies, including both continuous and discrete cases. In a continuously-repeated-opening durable good market with given finite horizon, if the seller cannot commit to the prices in the future, we find that the seller will get a positive expected profit equal to the profit which can be get by one-period monopoly selling at the market-closing point; in addition, such profit is independent of the buyers’ time preferences. We also analyze the discrete-opening market with finite horizon and provide an iterative solution to the uniform case. Different from the Coase Conjecture, we show that even though the equilibrium price decreases, it remains positive in the whole finite horizon. If the horizon trends to infinite, our result is consistent with the Coase Conjecture.
