Consumer Inventory, Price Break, and Price Dispersion

Pilky Hong
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Pilky Hong: National Computerization Agency

Korean Economic Review, 1996, vol. 12, issue 2, 29-45

Abstract: This study offers a dynamic framework which formulates stockpiling behavior of consumers as a fundamental market state. Mixed pricing strategies are endogen-ously derived from the model as well as two extreme monopoly and marginal pricing as limiting cases. This model enables us to study both spatial and temporal price be-havior using a simple dynamic programming method. The movement of price and sales can be examined at the level of the industry as well as the individual firm.

Date: 1996
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