Exportar Publicação

A publicação pode ser exportada nos seguintes formatos: referência da APA (American Psychological Association), referência do IEEE (Institute of Electrical and Electronics Engineers), BibTeX e RIS.

Exportar Referência (APA) 
Balestrieri, F., Izmalkov, S. & Leão, J. (2021). The market for surprises: Selling substitute goods through lotteries. Journal of the European Economic Association. 19 (1), 509-535
Exportar Referência (IEEE) 
F. Balestrieri et al.,  "The market for surprises: Selling substitute goods through lotteries", in Journal of the European Economic Association, vol. 19, no. 1, pp. 509-535, 2021
Exportar BibTeX 
@article{balestrieri2021_1732200253563,
	author = "Balestrieri, F. and Izmalkov, S. and Leão, J.",
	title = "The market for surprises: Selling substitute goods through lotteries",
	journal = "Journal of the European Economic Association",
	year = "2021",
	volume = "19",
	number = "1",
	doi = "10.1093/jeea/jvaa021",
	pages = "509-535",
	url = "https://academic.oup.com/jeea?login=true"
}
Exportar RIS 
TY  - JOUR
TI  - The market for surprises: Selling substitute goods through lotteries
T2  - Journal of the European Economic Association
VL  - 19
IS  - 1
AU  - Balestrieri, F.
AU  - Izmalkov, S.
AU  - Leão, J.
PY  - 2021
SP  - 509-535
SN  - 1542-4766
DO  - 10.1093/jeea/jvaa021
UR  - https://academic.oup.com/jeea?login=true
AB  - In this paper, we solve the revenue maximization problem of a multi-product monopolist when the products are substitutes. We consider a Hotelling model with two horizontally differentiated goods located at the endpoints of the segment. Consumers are located uniformly on the segment; their valuations for each good are equal to the base consumption value minus distance costs. When the base consumption value is high, the seller maximizes her expected profit by offering a menu of base and opaque goods. In particular, a single half-half lottery over base goods is optimal under concave and linear costs. When base consumption value is low, only base goods are sold. Finally, when base consumption value is intermediate, the optimal mechanism may entail the offering of lotteries with the positive probability of no delivery. Our findings can explain the emergence of opaque goods sales (e.g., hotel bookings without a complete description of the hotel through hotwire.com or priceline.com) as the outcome of the industry's search for the optimal selling scheme.
ER  -