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Cyclic Pricing by a Durable Goods Monopolist: Corrigendum

Author

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  • César L. Guerrero Luchtenberg

    (Centro de Investigación y Docencia Económicas (CIDE), México, D.F. Mexico)

Abstract

In this paper we make a new analysis of the model presented in Conlisk, Gerstner and Sobel (1984). They propose a model in discrete time, such that at each period a new cohort of agents enters the market –each cohort is composed by two types of agents, high value and low value agents– and a monopolist offering a durable good. They argue that in this model the monopolist charge a cyclic price path as a subgame perfect equilibrium. Instead of this, we show that either the monopolist charge a single price forever as a subgame perfect equilibrium or a subgame perfect equilibrium does not exist.

Suggested Citation

  • César L. Guerrero Luchtenberg, 2002. "Cyclic Pricing by a Durable Goods Monopolist: Corrigendum," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(2), pages 431-443, July-Dece.
    • Handle: RePEc:emc:ecomex:v:11:y:2002:i:2:p:431-443
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