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Friday, March 09, 2007
My paper, with colleague Darren Grant, investigating multiproduct pricing in Major League Baseball has been updated. Here's the abstract:
The empirical analysis of multiproduct pricing suffers from a lack of clear theoretical guidance and appropriate data, limitations which often render traditional regression-based analyses impractical. This paper analyzes ticket, parking, and concession pricing in Major League Baseball for the period 1991-2003 using a new methodology based on principal components, which allows inferences to be formed about the factors underlying price variation without strong theoretical guidance or abundant information about costs and demand. While general demand shifts are the most important factor, they explain only half of overall price variation. Also important are price interactions that derive from demand interrelationships between goods and the desire to maximize the capture of consumer surplus in the presence of heterogeneous demand.Here's a PDF version of the paper
Comments are always appreciated. This particular paper is, I believe, fairly clever but is having a hard time making inroads amongst the economics audience (and we are not exactly sure why). If anyone has some helpful comments, I'd love to hear them.
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