Showing 1 - 4 of 4
We explore asymmetries in the way consumers sample prices in a simple sequential search framework. In equilibrium, the price distribution of a firm catering to more local consumers first-order stochastically dominates that of its rival. Prices rise in the degree of asymmetry.
Persistent link: https://www.econbiz.de/10010743711
In a sequence of first-price auctions with stable private values bidders strategically conceal their private information until the last auction. We characterize equilibrium bidding and explore how such signal jamming affects the dynamics of equilibrium prices.
Persistent link: https://www.econbiz.de/10008494857
Persistent link: https://www.econbiz.de/10005307354
Persistent link: https://www.econbiz.de/10005257629