报告题目 | Fairness Regulation of Prices in Competitive Markets |
报告人（单位） | 高品（香港中文大学（深圳）） |
主持人（单位） | 李四杰、陈静（东南大学） |
时间地点 | 2022年10月17日（周一）下午2点 腾讯会议：238-608-519 |
报告摘要和内容： Loyalty penalty is a discriminatory pricing strategy in which firms offer loyal consumers high prices for exploitation and non-loyal consumers low prices for attraction. To curb this irresponsible business practice, many regulatory agencies (e.g., CMA and FCA in the UK) have proposed or enacted fairness regulation on prices. In this work, we study duopoly competition in two symmetric markets, where consumers in different markets are loyal to different firms. The imposed regulation stipulates that the price differential between the two markets set by each firm cannot exceed a certain threshold. Our analysis reveals an interesting interplay between market competition and price fairness regulation: when competition is intense, fairness regulation can mitigate the cut-throat competition between firms, leading to Pareto improvements relative to non-regulation; on the other extreme, when competition is weak, fairness regulation can strengthen firms' already-strong monopoly power, triggering collusion of high prices that are harmful to consumers and society. To enrich the results, several extensions are considered, including fairness regulation on relative price discounts, asymmetric markets, and a two-pronged regulation of both price gap and price cap. | |
报告人简介：
Gao Pin is currently an assistant professor at the School of Data Science, The Chinese University of Hong Kong, Shenzhen. He received a B.S. in physics from Wuhan University in 2013 and a M.Phil. in physics from Hong Kong University of Science and Technology (HKUST) in 2015, after which he worked in industry for two years. In 2021, he received a Ph.D. in Industry Engineering and Decision Analytics from HKUST. Dr. Gao's current research interests include revenue management and socially responsible operations. | |
