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Price
Discrimination and Production Technology in Vertically Related Markets |
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Hong Hwang and Kuo-Feng Kao |
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Working Paper |
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Kuo-Feng Kao (°ª°ê峯) |
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In this paper, we examine the welfare effect of price
discrimination in vertically related markets when the downstream firms have
different production technology. It is found that allowing price
discrimination may increase social welfare if the source of price discrimination
comes from the difference of production technology. First of all, when the
downstream markets are independent and the technology difference is large
enough, price discrimination increases the aggregate outputs and makes the
distribution of the final outputs between markets more evenly. The social
welfare improves. Second, when the downstream markets are independent, price
discrimination improves social welfare only if the aggregate outputs
increase. Finally, whether the downstream markets are independent or integrated,
the necessary condition of allowing price discrimination improves social
welfare is that the decrease of input price in inefficient market is larger
than the increase of input price in efficient market. |
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