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dc.contributor.author
Gordon, Mirta B.
dc.contributor.author
Nadal, Jean Pierre
dc.contributor.author
Phan, Denis
dc.contributor.author
Semeshenko, Viktoriya
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dc.contributor.other
Abergel, Frédéric
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Aoyama, Hideaki
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Chakrabarti, Bikas K.
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Chakraborti, Anirban
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Ghosh, Asim
dc.date.available
2021-06-29T17:21:56Z
dc.date.issued
2014
dc.identifier.citation
Gordon, Mirta B.; Nadal, Jean Pierre; Phan, Denis; Semeshenko, Viktoriya; Pricing of goods with bandwagon properties: The curse of coordination; Springer; 2014; 229-232
dc.identifier.isbn
978-3-319-00022-0
dc.identifier.uri
http://hdl.handle.net/11336/135115
dc.description.abstract
Social interactions play an important role on the collective outcomes. The decision of leaving a neighborhood, to attend a seminar or a crowded bar, to participate to collective actions such as strikes and riots, are particular examples. In market situations like the subscription to a telephone network or the choice of a computer operating system, the willingness to pay generally depends not only on the individual preferences but also on the choice made by others. Long after the pioneering works of T. C. Schelling [6] and of M. Granovetter [5], there has been a growing economic literature that recognizes the influence of social interactions on consumers. When the utility of a good increases with the number of buyers, there generically exist multiple equilibria for some range of prices. The Pareto-optimal equilibrium corresponds to the high demand solution, but this equilibrium may be not achieved due to a lack of coordination. In contrast, the analysis of the supply has deserved much less attention. A particular insightful paper is Becker’s note [1] attributing to social interactions the fact that popular restaurants do not increase their prices despite a persistent excess demand. In this paper we present a recent work where we go one step further, addressing the pricing issue in a monopoly market for goods with bandwagon effects in its generality.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Springer
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dc.rights
info:eu-repo/semantics/restrictedAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
DEMAND WITH MULTIPLE EQUILIBRIA
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THE CURSE OF COORDINATION
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SOCIAL INTERACTIONS
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BANDWAGON EFFECTS
dc.subject.classification
Otras Economía y Negocios
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dc.subject.classification
Economía y Negocios
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dc.subject.classification
CIENCIAS SOCIALES
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dc.title
Pricing of goods with bandwagon properties: The curse of coordination
dc.type
info:eu-repo/semantics/publishedVersion
dc.type
info:eu-repo/semantics/bookPart
dc.type
info:ar-repo/semantics/parte de libro
dc.date.updated
2021-06-07T16:12:14Z
dc.journal.pagination
229-232
dc.journal.pais
Suiza
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dc.description.fil
Fil: Gordon, Mirta B.. Centre National de la Recherche Scientifique; Francia
dc.description.fil
Fil: Nadal, Jean Pierre. Centre National de la Recherche Scientifique; Francia. École des Hautes Études en Sciences Sociales; Francia. Ecole Normale Supérieure. Laboratoire de Physique Statistique; Argentina
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Fil: Phan, Denis. Centre National de la Recherche Scientifique; Francia. Sorbonne University; Francia
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Fil: Semeshenko, Viktoriya. Centre National de la Recherche Scientifique; Francia. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Saavedra 15. Instituto Interdisciplinario de Economía Política de Buenos Aires. Universidad de Buenos Aires. Facultad de Ciencias Económicas. Instituto Interdisciplinario de Economía Política de Buenos Aires; Argentina
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/https://doi.org/10.1007/978-3-319-00023-7_13
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/http://link.springer.com/chapter/10.1007/978-3-319-00023-7_13
dc.conicet.paginas
302
dc.source.titulo
Econophysics of agent-based models: New ecomic windows
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