Price discrimination with producer & consumer transaction costs
Price discrimination with producer & consumer transaction costs
Date
2012-01-25
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Authors
Randolph, Gregory M.
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Publisher
Economics Bulletin
Abstract
This paper examines the impact of transaction costs on the social efficiency of first-degree price discrimination. Price discrimination requires the producer to expend resources and compels consumers to incur costs. The consideration of producer and consumer transaction costs alters the conditions under which first degree price discrimination enhances social welfare.
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Article