Consumer Imperfect Information and Endogenous Price Rigidity
نویسندگان
چکیده
منابع مشابه
Consumer bounded rationality and rigidity/flexibility retail price patterns
I revisit the model of market competition with boundedly rational consumers due to Spiegler (2006), in which firms compete in price distributions and consumers use a naive sampling procedure to evaluate them. I assume that firms can assign weight to arbitrarily low prices, and consumers have a non-trivial ex ante outside option. In symmetric Nash equilibrium, firms charge a high ‘‘regular price...
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ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2020
ISSN: 1945-7707,1945-7715
DOI: 10.1257/mac.20170203