Randolph, Gregory M.2013-06-252013-06-252012-01-25https://hdl.handle.net/10474/2412Version of recordThis 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.210391 bytesen-USAuthor retains all ownership rights. Further reproduction in violation of copyright is prohibitedprice discriminationsocial welfaretransaction costsArticleapplication/pdf