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In markets with search frictions, consumers can acquire information about goods either through costly search or from friends via word-of-mouth (WOM) communication. How do sellers’ market power react to a very large increase in the number of consumers’ friends with whom they engage in WOM?...
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becomes small, price dispersion disappears, while the price level converges to the monopoly level, implying that expected …
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BEREC’s recognition of network neutrality as a key policy priority in 2010 has led to various related activities, for instance a fact-finding on traffic management practices and an assessment of IP interconnection. In consequence, European regulators have gained a solid basis for determining...
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welfare? We study these questions in a model where a monopoly sells a network good and may price discriminate using network …
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