Showing 1 - 10 of 595
When consumers do not know the prices at which different firms sell, they often also do not know production costs. Consumer search models which take asymmetric information about production costs into account continue focusing on reservation price equilibria (RPE) and their properties. We argue...
Persistent link: https://www.econbiz.de/10010739725
This paper examines the eect of price matching guarantees (PMGs) in a sequential search model. PMGs are simultaneously chosen with prices and some consumers (shoppers) know the rms' decisions before buying, while others (non-shoppers) enter a shop rst before observing a rm's price and whether or...
Persistent link: https://www.econbiz.de/10010717755
This paper analyzes dynamic selection effects in markets for credence goods where price structures are determined by a regulator or by central management. There are different types of consumers and each type requires a different service or treatment level. We show that for a large class of price...
Persistent link: https://www.econbiz.de/10010717775
This paper examines the optimal sequencing of sales in the presence of network externalities. A firm sells a good to a group of consumers whose payoff from buying is increasing in total quantity sold. The firm selects the order to serve consumers so as to maximize expected sales. It can serve...
Persistent link: https://www.econbiz.de/10010720508
This paper analyses the role of information in the search process. Ibuild a simple model of a good with two random attributes with somejoint probability distribution. I consider seemingly unimportant changesin this distribution, i.e. changes which neither affect expected utility norits variance....
Persistent link: https://www.econbiz.de/10011256740
This paper builds a consumer search model where the cost of going back to stores already searched is explicitly taken into account. We show that the optimal search rule under costly recall is very different from the optimal search rule under perfect recall. Under costly recall, the optimal...
Persistent link: https://www.econbiz.de/10011257200
This paper characterizes equilibrium outcomes in consumer search markets taking the cost of going back to stores already searched explicitly into account. We show that the optimal sequential search rule under costly revisits is very different from the traditional reservation price rule in that...
Persistent link: https://www.econbiz.de/10010845604
We consider a dynamic competition game involving three players, in which each player can vary the extent of his competition on a per-rival basis. We call such competition targeted. We show that if the players are myopic, then the weaker players eventually lose the game to their strongest rival....
Persistent link: https://www.econbiz.de/10010931196
This paper examines the optimal sequencing of sales in the presence of network externalities. A firm sells a good to a group of consumers whose payoff from buying is increasing in total quantity sold. The firm selects the order to serve consumers so as to maximize expected sales. It can serve...
Persistent link: https://www.econbiz.de/10010722848
Persistent link: https://www.econbiz.de/10010795617