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Title: Some intertemporal and informational aspects of economic theory
Author: Doyle, Christopher
Awarding Body: University of Warwick
Current Institution: University of Warwick
Date of Award: 1987
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I present several theoretical models in which agents participate in environments where some relevant economic data is not known perfectly and decisions are taken within an intertemporal setting. In all the models I make extensive use of game theoretic concepts because agents are strategically interdependent. In other words in each model I describe, the action of one agent is known to affect at least one other agent and vice versa. I therefore commence with a description of the theoretical tools applied throughout. In particular, I focus on the refinements of the Nash equilibrium in games of incomplete or imperfect information. The first model I describe is one where a consumer is unable to discern the quality of a good at a particular store prior to consumption. I show that when a consumer locates a good match store the store will exercise price discrimination by increasing its price in the future. The model characterizes introductory offers. A number of extensions are considered, including the idea of interrelated prices. This is the theme of the next chapter where I show how price matching refunds can act as a price discriminatory mechanism if consumers differ over costs of acquiring information about prices. In the next chapter I present a model of multidimensional signalling, where refund promises or free trial periods when combined with the selling price can signal quality for certain. In the final chapter I analyse a bargain between a country and a foreign company and focus on the design of an incentive compatible tax schedule. The aim of the models is to provide new insights about economic relationships that feature intertemporal and informational aspects.
Supervisor: Not available Sponsor: Economic and Social Research Council ; Bank of England ; University of Warwick
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: HB Economic Theory