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| Thread ID: 32164 | 2003-04-10 21:25:00 | OT Petrol prices | rmcb (164) | Press F1 |
| Post ID | Timestamp | Content | User | ||
| 134920 | 2003-04-11 22:03:00 | > Discriminating monopoly, or price discrimination, > exists where a seller can sustain different prices of > a good to (usually) different consumers who are > unable to arbitrage equality of prices for that good > with each other. My point exactly. The consumers are not different, they are the same people aka the every day people who buy petrol. It is not a shift in the demand curve, rather a slide up and down the present one, lets say demand slides down on BP's side, this slide BP has lost has now been taken on by PnS, no shift in the demand curve occurs. You are also talking about people unable to arbitrage, this is not the case either as the petrol stations one could arge act more in a oligopoly formation. (so difference in prices CAN still ocur (but i do realise im scrapping the bottom of the barrel here)) So anyway arbitrage can still occur eg, i'll go down to Gull and get my cheaper petrol, which.............. i could ramble on forever, i see the view your taking, but i argue its a shift along demand and not a shift of the demand curve |
roofus (483) | ||
| 134921 | 2003-04-11 22:19:00 | The Master said, "Yu, shall I teach you what knowledge is? When you know a thing, to realise that you know it; and when you do not know a thing, to allow that you do not know it; this is knowledge." from Confucius [i]The Analects (circa[i/] 500BC - translation by James Legge 1887) |
rugila (214) | ||
| 134922 | 2003-04-12 02:59:00 | There are lies, damned lies, statistics, politics, and economics. D'Israeli said the first bit. | Graham L (2) | ||
| 134923 | 2003-04-12 05:00:00 | > "Straightway one of those numberless unfortunates who are cursed with the mania for talking about things they do not understand comes forth with the discovery - lo the wonders of genius! - that pure economics is not applied economics, and concludes that pure economics must be replaced by his gabble. Alas, good soul, a sound knowledge of economics helps at least to a rough understanding of the effects of the interdependence of economic phenomena, while your gabble shows absolutely nothing." (Vilfredo Pareto, 1848-1923, The Mind and Society) Discriminating monopoly, or price discrimination, exists where a seller can sustain different prices of a good to (usually) different consumers who are unable to arbitrage equality of prices for that good with each other. You acknowledge this so in the petrol sales case discussed. You acknowledge the existence of discriminating monopoly at the same time as you deny it. I really don’t understand why some people do this sort of thing, but that’s your problem, not mine. Where your definition comes from I have no idea, although it seems like an impromptu invention. My economics is actually in (very) top shape, and if need be I could adduce compelling evidence that I have kept it that way. All very clever,I think we can say you are a genius,why you said so ypourself,but what was the point again? |
Thomas (1820) | ||
| 134924 | 2003-04-12 07:29:00 | Graham L I seem to be on the wrong side of everyone. Yes Disraeli may have said it, but he emphasised at the time that he was quoting Mark Twain, and that he (Disraeli) didn't originate that comment. |
rugila (214) | ||
| 134925 | 2003-04-12 07:49:00 | What a load of dibble :q | drys (347) | ||
| 134926 | 2003-04-12 08:20:00 | In fact it was the other way round,seems Twain attributed it incorrectly to Disraeli. www1c.btwebworld.com |
Thomas (1820) | ||
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