Consumer Search, Price Dispersion, and International Relative Price Volatility
نویسندگان
چکیده
منابع مشابه
Consumer Search with Price Sorting∗
This paper introduces price sorting into a consumer search model. Either ascending or descending price sorting can be applied before the sampling process. Consumers search sequentially for products with two types of qualities. We allow a fraction of consumers to have zero search costs, and all other consumers have the same positive search cost. Price dispersion exists in the unique symmetric eq...
متن کاملEquilibrium Price Dispersion with Consumer Inventories
A model with two types of consumers, shoppers and captives, is constructed that leads to an equilibrium price dispersion. Shoppers may hold inventories of the good; the level of consumer inventories leads to state-dependent price dispersions. It is shown that prices and quantities display negative serial correlation. The model is tested using grocery store data, which display the predicted corr...
متن کاملPrice Guarantees , Consumer Search , and Hassle Costs
The paper deals with the competitive effects of price guarantees in a spatial duopoly where consumers can search for lower prices but have to incur hassle costs if they want to claim a price guarantee. It is shown that symmetric equilibria with and without price guarantees exist but price guarantees will have no effect on prices if search costs are low, hassle costs are high and the number of u...
متن کاملEndogenous Search , Price Dispersion , and Welfare
This paper studies the welfare cost of inflation in a frictional monetary economy with endogenous consumer search. Equilibrium entails price dispersion, where sellers compete for buyers by posting prices. We identify three channels through which inflation affects welfare. The real balance channel is the source of welfare loss. Its interaction with the price posting channel generates a welfare c...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2005
ISSN: 1556-5068
DOI: 10.2139/ssrn.748384