Errata

Abstract

ERRATA for

“Profitable Destabilizing Speculation

as Intertemporal Price Discrimination”

by David Feldman and Edward Tower

Vol. XXVIII, Fall 1984, pp. 60–63

The final paragraph of our introductory remarks should read, “We identify a nonmonotonic marginal revenue curve as the source of the profitability of intertemporal price discrimination to a producer-speculator. Since MR = P(1 − 1/η), where η is the absolute value of the price elasticity of demand, nonmonotonic MR can arise only when this elasticity falls with increased quantity…”

Figures 1 and 2 (first paired diagram) and Figures 3 and 4 (second paired diagram) have been switched.

The final sentence in the last paragraph of Section I should read, “This then is a new sense in which destabilizing speculation may be profitable.”