Jacob LaRiviere
Dynamic Pricing of Experience Goods with Uncertain Learning
Abstract: This paper develops a model of optimal non-durable experience goods pricing in which heterogenous consumers have indepedent beliefs about the quality of the good. In the model, a uniform pricing monopolist maximizes profits through dynamic pricing. The model's solution has that optimal prices can be either increasing or decreasing throughout time. The crucial tradeoff is between exploiting consumer overconfidence vs. inducing consumer experimentation. July, 2007More Thoughts on Scale Wages and Fisheries Management
Abstract: This paper considers the effect of incorporating non-parametric wage payments to the operators of fishing vessels on the outcomes of different management regimes in fisheries. Most fisheries models take the wage paid to vessel operators as exogenous, however, if pay scales are not exogenous this can have drastic effects on the fleet capacity under either landing fees, ITQ or vessel licensing fee management regimes. Findings include that full profit sharing with the crew will always lead to over capacity in any management regime and all other wage structures may lead to over or under capacity. May, 2008