About: An agent-based model of price flexing by chain-store retailers

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	This paper investigates the effects of local price flexing on market structure and welfare in the supermarket sector. It presents an agent-based model of a~sector with two chain-store retailers in which the number and location of stores and prices charged by the stores are determined endogenously. The outcome in which all the stores within each chain charge the same price is compared to the situation in which each store sets prices according to local market conditions. The paper finds that local pricing reduces the number of stores and total welfare in the market. Furthermore, local pricing is more likely to increase the average prices and total revenue in the market, if the reservation price of consumers is high relative to the equilibrium price under uniform pricing. In this situation, local pricing is likely to reduce not only total welfare but also aggregate consumer surplus in the market. This paper investigates the effects of local price flexing on market structure and welfare in the supermarket sector. It presents an agent-based model of a~sector with two chain-store retailers in which the number and location of stores and prices charged by the stores are determined endogenously. The outcome in which all the stores within each chain charge the same price is compared to the situation in which each store sets prices according to local market conditions. The paper finds that local pricing reduces the number of stores and total welfare in the market. Furthermore, local pricing is more likely to increase the average prices and total revenue in the market, if the reservation price of consumers is high relative to the equilibrium price under uniform pricing. In this situation, local pricing is likely to reduce not only total welfare but also aggregate consumer surplus in the market. (en)
Title	An agent-based model of price flexing by chain-store retailers An agent-based model of price flexing by chain-store retailers (en)
skos:prefLabel	An agent-based model of price flexing by chain-store retailers An agent-based model of price flexing by chain-store retailers (en)
skos:notation	RIV/00216224:14560/12:00060881!RIV13-MSM-14560___
http://linked.open...avai/riv/aktivita	S
http://linked.open...avai/riv/aktivity	S
http://linked.open...vai/riv/dodaniDat	2013
http://linked.open...aciTvurceVysledku	Krčál, Ondřej
http://linked.open.../riv/druhVysledku	D - Článek ve sborníku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Masarykova univerzita / Ekonomicko-správní fakulta
http://linked.open...dnocenehoVysledku	121863
http://linked.open...ai/riv/idVysledku	RIV/00216224:14560/12:00060881
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	retail supermarket price flexing agent-based local uniform (en)
http://linked.open.../riv/klicoveSlovo	retail supermarket price flexing agent-based local uniform
http://linked.open...ontrolniKodProRIV	[D03739338B4E]
http://linked.open...v/mistoKonaniAkce	Karviná
http://linked.open...i/riv/mistoVydani	Karviná
http://linked.open...i/riv/nazevZdroje	Proceedings of the 30th International Conference Mathematical Methods in Economics 2012
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...UplatneniVysledku	2012
http://linked.open...iv/tvurceVysledku	Krčál, Ondřej
http://linked.open...vavai/riv/typAkce	EUR - Evropská
http://linked.open.../riv/zahajeniAkce	2012-09-11 (xsd:date)
number of pages	6 (xsd:int)
http://purl.org/ne...btex#hasPublisher	Slezská univerzita v Opavě. Obchodně podnikatelská fakulta v Karviné
https://schema.org/isbn	9788072487790
http://localhost/t...ganizacniJednotka	14560

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