Perfect price discrimination is mostly hypothetical. However, as data mining becomes more ubiquitous, we can expect markets to perfect price discrimination, as companies amass more information about individual preferences.
When clients in various market segments are charged different rates for the same commodity or service, for reasons unrelated to costs, this is referred to as price discrimination. Only when customers are unable to successfully resell the goods or services to other customers can price discrimination be effective.
A selling tactic known as price discrimination involves charging clients various rates for the same good or service depending on what the vendor believes they can persuade the customer to accept.
Price discrimination occurs when a seller charges different rates for the same good or service to different customers for reasons unrelated to variations in cost.
Price discrimination can come in three flavors: first-degree, second-degree, and third-degree. These degrees are also known as customized pricing, product versioning, or menu degrees.
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