A model for buying and renting information goods incorporating incomplete information

Raine, Alan. (2002). A model for buying and renting information goods incorporating incomplete information Honours Thesis, School of Economics, The University of Queensland.

       
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Author Raine, Alan.
Thesis Title A model for buying and renting information goods incorporating incomplete information
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 2002
Thesis type Honours Thesis
Total pages 84
Language eng
Subjects 14 Economics
Formatted abstract This work extends a profit maximizing model for information goods which investigated two methods of consumption, buying and renting. The model explored the economic effects of exclusive individual market operation and circumstances where consumption was available through both markets. This model also incorporated heterogeneous taste but did not take into account the possibility of hidden action where consumers are able to copy information goods. The first extension of this thesis incorporates hidden action through optimal contract design and provides both absolute conditions and marginal analysis when each supply type functions exclusively to serve the market. A similar model of a representative firm with price taking consumers examines a more plausible situation where both markets are allowed to exist simultaneously under incomplete information.

 
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