lecture11产品差异化.pptVIP

Bertrand Paradox(伯川德悖论) and Product Differentiation（产品差异化） Bertrand Paradox: If two firms compete in prices, then p1=p2=MC=c, which is the perfect competition result! Intuition: if one of the two firms charge a price p1 higher than c, i.e. p1c, then the other firm can benefit by charging a price slightly smaller than p1. the result is “not nice” ? there are only 2 firms and yet firms charge p=MC ? Bertrand Paradox Counter-example: 学生公寓与本部柚子；超市与小贩的柚子 Bertrand Paradox and Product Differentiation Two extensions capacity constraints (Edgeworth 1987)： 案例：学生公寓与本部柚子的价格差异 Product differentiation 案例：超市与小贩的柚子 Bertrand Paradox and Product Differentiation 去超市与从小贩那里买柚子的差别 差别1：超市提供一站式服务，买完柚子还能买其他的产品（水平差异） 差别2：超市的购买成本低,不需要讨价还价(水平差异) 差别3：从超市购买可以满足部分消费者的虚弱心(水平差异) 差别4：超市提供的产品品质有保证（垂直差异） Hotelling Model… 利润函数:(p-c) 2(V-p)/t, if V-t/2 p ≤ V Hotelling Model… Vertical Product Differentiation… Vertical Product Differentiation… We require that consumers are sufficiently heterogeneous in taste Intuition：考虑消费者完全同质的情况，此时，由于企业2生产的产品质量更高，没有消费者从企业1那里购买产品。 Vertical Product Differentiation… Vertical Product Differentiation… 思考 贸易自由化是否会导致穷国产品的低端化？ 考虑如下场景：自由化之前每个国家各有一家企业，穷国企业生产低端产品，富国企业生产高端产品。 贸易自由化之后，穷国企业生产的产品质量进一步降低，富国企业生产的产品质量则进一步提高。 EC 3322 (Industrial Organization I) * Salop’s Circle Model To avoid the problem of non existence of equilibrium, Salop (1979) developed circle model which introduce 2 major changes to the Hotelling model. Firms are located around a circle instead of a long line. Consideration of an outside (second) good, which is undifferentiated and competitively supplied. Firms Firms are located around a circle (circumference=1) with equal distance (1/N) from each other. Fixed cost f, and marginal cost, c. Profit: EC 3322 (Industrial Organization I) * x Salop’s Circle Model (example: N=6) Firm 1 Firm 2 Firm 3 Firm 4 Firm 5 Firm 6 1/6 1/6 1/6 1/6 1/6 1/6 Firm 1 Firm 2 Firm 6 p1 p p x 1/6 EC 3322 (Industrial Organization I) * Salop’s Circle Model… Consumers Un