Dynamic pricing of new experience goods

Journal of Political Economy

Volumn 114, Issue 4, 2006, Pages 713-743

  Bergemann, Dirk ^a   Välimäki, Juuso ^b,c  

^a YALE UNIVERSITY   (United States)

^b HELSINKI SCHOOL OF ECONOMICS   (Finland)

^c UNIVERSITY OF SOUTHAMPTON   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

COMMODITY MARKET; COMMODITY PRICE; MODEL; PRICE DYNAMICS; WILLINGNESS TO PAY;

EID: 33748776256     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/506923     Document Type: Article

References (23)

1. Ackerberg, Daniel A. 2003. "Advertising, Learning, and Consumer Choice in Experience Good Markets: An Empirical Examination." Internat. Econ. Rev. 44 (August): 1007-40.
2. Bergemann, Dirk, and Juuso Välimäki. 2004. "Monopoly Pricing of Experience Goods." Tech. Report no. 1463, Yale Univ., Cowles Found. Res. Econ.
3. Berndt, Ernst R., Margaret K. Kyle, and Davina C. Ling. 2003. "The Long Shadow of Patent Expiration: Generic Entry and Rx-to-OTC Switches." In Scanner Data and Price Indexes, edited by Robert C. Feenstra and Matthew D. Shapiro. Chicago: Univ. Chicago Press.
4. Berry, Steven T. 1994. "Estimating Discrete-Choice Models of Product Differentiation." Rand J. Econ. 25 (Summer): 242-62.
5. Ching, Andrew T. 2002. "Consumer Learning and Heterogeneity: Dynamics of Demand for Prescription Drugs after Patent Expiration." Manuscript, Univ. Toronto.
6. Coscelli, Andrea, and Matthew Shum. 2004. "An Empirical Model of Learning and Patient Spillovers in New Drug Entry." J. Econometrics 122 (October): 213-46.
7. Crawford, Gregory S., and Matthew Shum. 2005. "Uncertainty and Learning in Pharmaceutical Demand." Econometrica 73 (July): 1137-73.
8. Cremer, Jacques. 1984. "On the Economics of Repeat Buying." Rand J. Econ. 15 (Autumn): 396-403.
9. Erdem, Tulin, Susumu Imai, and Michael P. Keane. 2003. "Brand and Quantity Choice Dynamics under Price Uncertainty." Quantitative Marketing and Econ. 1 (1): 5-64.
10. Erdem, Tulin, and Michael P. Keane. 1996. "Decision-Making under Uncertainty: Capturing Dynamic Brand Choice Processes in Turbulent Consumer Goods Markets." Marketing Sci. 15 (1): 1-20.
11. Farrell, Joseph. 1986. "Moral Hazard as an Entry Barrier." Rand J. Econ. 17 (Autumn): 440-49.
12. Goettler, Ronald L., and Karen Clay. 2006. "Price Discrimination with Experience Goods: A Structural Econometric Analysis." Manuscript, Carnegie Mellon Univ.
13. Gowrisankaran, Gautam, and Marc Rysman. 2005. "Determinants of Price Declines for New Durable Consumer Goods." Manuscript, Washington Univ. and Boston Univ.
14. Israel, Mark. 2005. "Service as Experience Goods: An Empirical Examination of Consumer Learning in Automobile Insurance." A.E.R. 95 (December): 1444-63.
15. Johnson, Justin P., and David P. Myatt. 2006. "On the Simple Economics of Advertising, Marketing, and Product Design." A.E.R., forthcoming.
16. Lu, Z. John, and William S. Comanor. 1998. "Strategic Pricing of New Pharmaceuticals." Rev. Econ. and Statis. 80 (February): 108-18.
17. Milgrom, Paul, and John Roberts. 1986. "Price and Advertising Signals of Product Quality." J.P.E. 94 (August): 796-821.
18. Nair, Harikesh. 2005. "Intertemporal Price Discrimination with Forward Looking Consumers: Application to the US Market for Console Video Games." Manuscript, Stanford Univ.
19. Osborne, Martin. 2005. "Consumer Learning, Habit Formation and Heterogeneity: A Structural Examination." Manuscript, Univ. Chicago.
20. Shapiro, Carl. 1983. "Optimal Pricing of Experience Goods." Bell J. Econ. 14 (Autumn): 497-507.
21. Sobel, Joel. 1991. "Durable Goods Monopoly with Entry of New Consumers." Econometrica 59 (September): 1455-85.
22. Tirole, Jean. 1988. The Theory of Industrial Organization. Cambridge, MA: MIT Press.
23. Villas-Boas, J. Miguel. 2004. "Consumer Learning, Brand Loyalty, and Competition." Marketing Sci. 23 (Winter): 134-45.