The value of buyer's ignorance in monopoly |
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| Authors: | Alexander E. Saak |
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| Affiliation: | Department of Agricultural Economics, Kansas State University, 331D Waters Hall, Manhattan, KS 66506-4011, U.S.A. |
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| Abstract: | A non-linear pricing monopolist always prefers to sell to buyers with no private information about their tastes for the product if the marginal production cost is smaller than the marginal utility of consumption for all buyers. |
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| Keywords: | Monopoly Product quality Private information |
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