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Equilibrium Models with Dynamic Demand and Dynamic Supply
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| 자료유형 | 학위논문 |
|---|---|
| 서명/저자사항 | Equilibrium Models with Dynamic Demand and Dynamic Supply. |
| 개인저자 | Hui, Shen. |
| 단체저자명 | University of Maryland, College Park. Economics. |
| 발행사항 | [S.l.]: University of Maryland, College Park., 2019. |
| 발행사항 | Ann Arbor: ProQuest Dissertations & Theses, 2019. |
| 형태사항 | 115 p. |
| 기본자료 저록 | Dissertations Abstracts International 81-05A. Dissertation Abstract International |
| ISBN | 9781088393574 |
| 학위논문주기 | Thesis (Ph.D.)--University of Maryland, College Park, 2019. |
| 일반주기 |
Source: Dissertations Abstracts International, Volume: 81-05, Section: A.
Advisor: Sweeting, Andrew. |
| 이용제한사항 | This item must not be sold to any third party vendors.This item must not be added to any third party search indexes. |
| 요약 | This dissertation comprises two studies of equilibrium models with both dynamic demand and dynamic supply sides. The first is an empirical study of the US video games industry, and the second is a theoretical study.Chapters 1 and 2 develop a model for quantifying the role of social learning in consumers' dynamic demand and finding optimal intertemporal prices for profit maximizing firms in a market populated by forward-looking social learners. Optimal prices are a result of a Markov perfect equilibrium played between the firm and the consumers. Nested in the market equilibrium is a demand equilibrium played among consumers who make the "right" purchase/wait decisions given endogenously produced product information. The empirical exercises are conducted in two steps. The first step estimates demand parameters, including those associated with social learning. Endogeneity of prices is remedied with a pseudo pricing policy function of relevant state variables. In the second step, optimal prices are found by the Mathematical Programming with Equilibrium Constraints (MPEC) approach. The model is applied to the US video games industry with sales data of PlayStation 3 games. The results reveal that (1) compared to static social learning, forward- looking social learning reduces equilibrium profits of games in the sample by $5.2M (28.4%) on average |
| 일반주제명 | Economics. Marketing. Information science. |
| 언어 | 영어 |
| 바로가기 | 
: 이 자료의 원문은 한국교육학술정보원에서 제공합니다. |
