Multiple equilibria with a multiple price list

Stéphan Marette (), Sandrine Blanchemanche and Jutta Roosen

Applied Economics Letters, 2013, vol. 20, issue 8, 809-812

Abstract: A multiple price list is useful for eliciting a Willingness-to-Pay (WTP) and a possible Lower Limit (LL) under which the demand is zero. This multiple price list implies an aggregate demand determined by the number of participants whose WTP is greater than the market price and whose LL is below this market price. From a survey focusing on meat demand, we show that this aggregate demand leads to multiple price equilibria.

Date: 2013
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DOI: 10.1080/13504851.2012.748174

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