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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.date.available
2017-09-12T19:56:40Z
dc.date.issued
2013-05
dc.identifier.citation
Gordon, Mirta B.; Nadal, Jean Pierre; Phan, Denis; Semeshenko, Viktoriya; Entanglement between demand and supply in markets with bandwagon goods; Springer; Journal of Statistical Physics; 151; 3-4; 5-2013; 494-522
dc.identifier.issn
0022-4715
dc.identifier.uri
http://hdl.handle.net/11336/24089
dc.description.abstract
Whenever customers’ choices (e.g. to buy or not a given good) depend on others choices (cases coined ‘positive externalities’ or ‘bandwagon effect’ in the economic literature), the demand may be multiply valued: for a same posted price, there is either a small number of buyers, or a large one—in which case one says that the customers coordinate. This leads to a dilemma for the seller: should he sell at a high price, targeting a small number of buyers, or at low price targeting a large number of buyers? In this paper we show that the interaction between demand and supply is even more complex than expected, leading to what we call the curse of coordination: the pricing strategy for the seller which aimed at maximizing his profit corresponds to posting a price which, not only assumes that the customers will coordinate, but also lies very near the critical price value at which such high demand no more exists. This is obtained by the detailed mathematical analysis of a particular model formally related to the Random Field Ising Model and to a model introduced in social sciences by T.C. Schelling in the 70’s.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Springer
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dc.rights
info:eu-repo/semantics/openAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
Choice Under Social Influence
dc.subject
Pricing
dc.subject
Rfim
dc.subject
Schelling
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
Entanglement between demand and supply in markets with bandwagon goods
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2017-09-12T16:31:12Z
dc.identifier.eissn
1572-9613
dc.journal.volume
151
dc.journal.number
3-4
dc.journal.pagination
494-522
dc.journal.pais
Estados Unidos
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dc.journal.ciudad
Nueva York
dc.description.fil
Fil: Gordon, Mirta B.. Institut National de Recherche en Informatique et en Automatique; Francia. Universite Joseph Fourier; Francia. Centre National de la Recherche Scientifique; Francia
dc.description.fil
Fil: Nadal, Jean Pierre. École des Hautes Études en Sciences Sociales; Francia. Université Paris Diderot - Paris 7; Francia. Centre National de la Recherche Scientifique. Ecole Normale Supérieure; Francia
dc.description.fil
Fil: Phan, Denis. Université de Paris IV Paris-Sorbonne; Francia
dc.description.fil
Fil: Semeshenko, Viktoriya. Universidad de Buenos Aires. Facultad de Ciencias Económicas; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
dc.journal.title
Journal of Statistical Physics
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dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/http://link.springer.com/article/10.1007%2Fs10955-012-0660-1
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/http://dx.doi.org/10.1007/s10955-012-0660-1
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://arxiv.org/abs/1209.1321
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