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      Parking as a loss leader at shopping malls

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      Author(s)
      Ersoy, F. Y.
      Hasker, K.
      Inci, E.
      Date
      2016
      Source Title
      Transportation Research Part B: Methodological
      Print ISSN
      0191-2615
      Electronic ISSN
      1879-2367
      Publisher
      Pergamon Press
      Volume
      91
      Pages
      98 - 112
      Language
      English
      Type
      Article
      Item Usage Stats
      213
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      338
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      Abstract
      This paper investigates the pricing of malls in an environment where shoppers choose between a car and public transportation in getting to a suburban mall. The mall implicitly engages in mixed bundling; it sells goods bundled with parking to shoppers who come by car, and only goods to shoppers who come by public transportation. There are external costs of discomfort in public transportation due to crowdedness. Thus, shoppers using public transportation deter each other. The mall internalizes these external costs, much like a policy maker. To do so, it raises the sales price of the good and sets a parking fee less than parking's marginal cost. Hence, parking is always a loss leader. Surprisingly, this pricing scheme is not necessarily distortionary. © 2016 Elsevier Ltd.
      Keywords
      Bundling
      Loss-leader pricing
      Mode choice
      Public transportation
      Shopping mall parking
      Shopping centers
      External costs
      Marginal costs
      Mixed bundling
      Mode choice
      Policy makers
      Pricing scheme
      Public transportation
      Costs
      Car use
      Parking
      Pricing policy
      Public transport
      Permalink
      http://hdl.handle.net/11693/36765
      Published Version (Please cite this version)
      http://dx.doi.org/10.1016/j.trb.2016.04.016
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      • Department of Economics 697
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