Agregar o separar: Estrategias de un monopolista bajo asimetría informacional
Matías Villagra M.
Tesis, Magíster en Economía, IE-PUC, 2016
This thesis explores which is the optimal sales strategy for a monopolist who supplies consumers that share information about their type. Results are divided in two parts: big and small markets. When markets are big, it is proven that monopolist’s expected profit is maximized by establishing a distributor. This result holds for any continuous non-negative distribution of types with increasing hazard rate supported on a convex set. When markets are small particular cases and numerical solutions are presented for types that distribute standard uniform and exponential. For both distributions it is shown that it is optimal to establish a distributor. Some general results are presented for markets of arbitrary size. Also, efficiency of goods allocation, welfare implications and the pricing policy of each sales strategy are studied.