This paper suggests that credibly committing to the strictly lowest price can be profitable and self-fulfilling in a spatial price competition. Consumers live in multiple residential zones. Each zone has a store. Cons...This paper suggests that credibly committing to the strictly lowest price can be profitable and self-fulfilling in a spatial price competition. Consumers live in multiple residential zones. Each zone has a store. Consumers incur heterogeneous transportation costs moving between two zones. When there is one store credibly committing to the strictly lowest price, there is a pure strategy equilibrium in which a discount store directly competes with all other stores. The discount store offers the lowest price, takes the largest market share, and makes more profits than the other stores. Moreover, the low price commitment is not binding in equilibrium, which implies that the commitment is self-fulfilling.展开更多
MIGRANT WORKER TAKES ON NEW ROLE Ju Xiaolin,a rail technician holding a senior high school diploma,was elected vice（haimnan of the All-China Federation of Trade Unions（ACFTU）on January 17.Ju,53,is the first migrant...MIGRANT WORKER TAKES ON NEW ROLE Ju Xiaolin,a rail technician holding a senior high school diploma,was elected vice（haimnan of the All-China Federation of Trade Unions（ACFTU）on January 17.Ju,53,is the first migrant worker to hold such a high post,展开更多
文摘This paper suggests that credibly committing to the strictly lowest price can be profitable and self-fulfilling in a spatial price competition. Consumers live in multiple residential zones. Each zone has a store. Consumers incur heterogeneous transportation costs moving between two zones. When there is one store credibly committing to the strictly lowest price, there is a pure strategy equilibrium in which a discount store directly competes with all other stores. The discount store offers the lowest price, takes the largest market share, and makes more profits than the other stores. Moreover, the low price commitment is not binding in equilibrium, which implies that the commitment is self-fulfilling.
文摘MIGRANT WORKER TAKES ON NEW ROLE Ju Xiaolin,a rail technician holding a senior high school diploma,was elected vice（haimnan of the All-China Federation of Trade Unions（ACFTU）on January 17.Ju,53,is the first migrant worker to hold such a high post,
