In competitive sequential screening, sufficiently early option-contract menus raise consumer surplus relative to spot pricing by stiffening competition, despite creating lock-in and inefficient consumption.
Sinceu(·, γ) is supermodular, the setP(γ) is a sublattice of [0,∞] 2
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Competitive Sequential Screening
In competitive sequential screening, sufficiently early option-contract menus raise consumer surplus relative to spot pricing by stiffening competition, despite creating lock-in and inefficient consumption.