Consumer heterogeneity and inefficiency in oligopoly markets

• 成果类型: Article
• 署名作者: Tan, Guofu; Zhou, Junjie
• 署名单位: University of Southern California; Tsinghua University
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2024.105882
• 发表日期: 2024
• 关键词: Probability density quantile; discrete choice model; consumer heterogeneity; Log-concavity; free entry; EFFICIENCY; Competitive bundling; Multi-sided markets

摘要

Motivated by several recent studies on oligopolistic markets with consumer heterogeneity, we characterize the geometric properties of a class of inequalities involving the product of two integrals of the probability density quantile function and its reciprocal. Through three applications, we illustrate how our characterization can help enrich our understanding of the existing findings and shed some new insights, regarding the extent to which consumer welfare and social efficiency depend on the properties of the distributions of consumer valuation heterogeneity.