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SUMMARY:Competition in a Differentiated Product Market with Individualized
  Pricing: The Case of the UK Brick Industry - Professor Howard Smith\, Oxf
 ord University
DTSTART:20180313T170000Z
DTEND:20180313T180000Z
UID:TALK101773@talks.cam.ac.uk
CONTACT:Emily Brown
DESCRIPTION:In many competitive markets the seller sells the product at an
  individualised price specific to the buyer. This is a particular feature 
 of markets where buyers preferences are well known to the sellers. We stud
 y price determination in a market where products are differentiated by geo
 graphic location as well as by product characteristics. Using a data set o
 f transactions from the UK brick industry\, we estimate a model with indiv
 idualised prices. We analyse the effect of bargaining skill\, location\, a
 nd transaction size on prices. In counterfactual analysis\, we measure the
  welfare impact of prohibiting individualised price discrimination\, and w
 e analyse the effects of mergers when there is individualised pricing.
LOCATION:W2.02\, Cambridge Judge Business School
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