The Secret Cappuccino (Tim Harford 2/6)
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This video is a response to 3 things We Know about Economics (Tim Harford 1/6)
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You are talking about 1st degree price discrimination, for 2nd and 3rd ° even for 1st° the firm doesn't necesarily has to have some monopoly power, the case of starbucks the product is still coffee no matter the name (latte, cap, etc) It is exactly what microsoft does with the "versions" of the same OS, (basic, premium, pro, etc) its basically the same code only certain functions added or removed. Try the book, its quite good.
Luisthefurian 2 years ago
This video is not about "price discrimination."
Price discrimination is when a firm, owing to at least some monopoly power, charges different prices to different groups of buyers for an identical good or service.
Real examples of price discrimination include student and senior discounts, lower airfares with a Saturday-night stayover than without, and movie matinee prices.
His talk is actually about product differentiation: charging different prices for similar--but not identical--goods.
vclaar 2 years ago