Relationship among shopping mall, retail stores, and customers in suburban malls
Güven, Gökhan (2016) Relationship among shopping mall, retail stores, and customers in suburban malls. [Thesis]
In this thesis, I have constructed a model in which three distinct actors are in a complicated relationship and sought three answers to the following three main questions. The first one is about the analysis of customers' purchase decisions under the condition of not having information about prices of goods and valuations for that goods before traveling the shopping mall. The second one is related to the analysis of the price decisions of two similar retail stores in the case of charged rental contracts managed by the shopping mall. The last one is the analysis of the determination of parking fee that is known by the customers in advance and of optimum rent contracts including fixed and percentage rent. It is found that the equilibrium parking fees are always less than the marginal cost of supplying parking spaces, which implies that the mall determines the parking fee as a loss leader. The second result is that the price of goods are determined at the monopoly prices even if they sell a similar type of products, which the market tends to compete. And the last result is that shopping mall must implement positive percentage rent toward stores to increase its profit, which perfectly complies with data related to rent leases in shopping centers.
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