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Game Theory

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Key Concepts A game is any situation in which players (the participants) make strategic decisions—i.e., decisions that take into account each other’s actions and responses. […]

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Input Output Analysis

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Introduction In its “static’ version, Professor Leontief’s input-output analysis deals with this particular question: “What level of output should each of the n industries in […]

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The two-part tariff

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The two-part tariff is related to price discrimination and provides another means of extracting consumer surplus. It requires consumers to pay a fee up front […]

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Peak-load pricing

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Peak-load pricing also involves charging different prices at different points in time. Rather than capturing consumer surplus, however, the objective is to increase economic efficiency […]

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Intertemporal price discrimination

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Two other closely related forms of price discrimination are important and widely practiced. The first of these is inter-temporal price discrimination: separating consumers with different […]