Competitive Strategy (7/7/2006)
Static efficiency in mature products may be good for consumers in the short run, but dynamic efficiency in innovative products is what drives the economy and elevates consumer welfare in the long run.
Keywords: brand dominance, consumer surplus, dynamic efficiency, economic surplus, innovative products, lock-in effect, market structure, mature products, monopoly, network product, oligopoly, patents, perfect competition, price discrimination, single pricing, standards, static efficiency
Marginal Revenue of Perfect Price Discriminators (11/17/2007)
The marginal revenue of perfect price discriminators is equal to price.
Keywords: economic surplus, efficiency, marginal revenue, marginal willingness to pay, MR, MWP, P, perfect price discrimination, price, profit maximization, reservation price, total willingness to pay, TWP
Marginal Revenue under Single-pricing - Price Searchers vs Price Takers (11/17/2007)
Single pricing leads to P = MR under price taking or P > MR under price searching.
Keywords: economic surplus, efficiency, price searching, price taking, profit, reservation price, single pricing, single-pricing
Pricing and economic surplus (7/7/2006)
Pricing affects how economic surplus is distributed between consumers and producers and thus the incentive and resources to come up with innovative products.
Keywords: commodity, consumer surplus, economic surplus, innovative products, marginal cost, marginal revenue, monopoly, perfect competition, price discrimination, reservation price, single pricing
Pricing to Cost - But Which Cost? (10/13/2007)
Pricing to marginal cost may not cover fixed cost.
Keywords: consumer surplus, economic surplus, fixed cost, marginal cost, perfect competition, perfect price discrimination, price searcher, price taker, profit, two-part pricing, variable cost
Profit vs Efficiency Maximization (11/2/2011)
Pricing modes determine the conflicts between profit maximization and efficiency maximization.
Keywords: consumer surplus, economic surplus, efficiency maximization, perfect price discrimination, price taking, profit maximization, single pricing
Profit vs Efficiency Maximization (transcript) (1/29/2012)
Pricing modes determine the conflicts between profit maximization and efficiency maximization.
Keywords: consumer surplus, economic surplus, efficiency maximization, perfect price discrimination, price taking, profit maximization, single pricing
