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Viscous Demand

Authors: Radner, Roy
Issue Date: Aug-1999
Publisher: Stern School of Business, New York University
Series/Report no.: IS-99-04
Abstract: In many markets, demand adjusts slowly to changes in prices, i.e., demand is "viscous." For such a market, the time path of a firm's prices acquires added significance, compared with the case of instantaneous demand response. In this paper I explore some problems in strategic dynamic pricing of a service, in the presence of viscous demand, for simple models of a monopoly and a duopoly.
Appears in Collections:IOMS: Information Systems Working Papers

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