Price dispersion among commodity goods is typically attributed to consumer search costs. This paper explores the magnitude of consumer search benefits and costs using a data set obtained from a major Internet shopbot. For the median consumer, the benefits to searching lower screens are $6.55...

Using a sample for 1972-2002 with over 8,000 bank entries into local markets, we find a market share advantage for earlier entrants. In particular, the earlier a bank enters, the larger is its market share relative to other banks, controlling for firm, market and time effects, with a market...

Using a sample for 1972-2002 with over 8,000 bank entries into local markets, we find a market share advantage for earlier entrants. In particular, the earlier a bank enters, the larger is its market share relative to other banks, controlling for firm, market and time effects, with a market...

The paper examines the effects of the Riegle-Neal branching deregulation in the 1990s on banking market structure, service, and performance. While concentration at the regional level has increased, deregulation has left almost intact the structure of metropolitan markets, which have between two...

Local banking markets depict enormous variation in population size. Yet this paper finds that the nature of bank competition across markets is strikingly similar. First, markets remain similarly concentrated regardless of size. Second, the number of dominant banks is roughly constant across...

Using a sample for 1972-2002 with over 10,000 bank entries into local markets, we find a market share advantage for early entrants. In particular, the earlier a bank enters, the larger is its market share relative to other banks, controlling for firm, market, and time effects, with a market...