Journal article
Non-reservation price equilibria and consumer search
- Abstract:
-
Reservation price equilibria (RPE) do not accurately assess market power in consumer search markets. In most search markets, consumers do not know important elements of the environment in which they search (such as, for example, firms' cost). We argue that when consumers learn when searching, RPE suffer from theoretical issues, such as non-existence and critical dependence on specific out-of-equilibrium beliefs. We characterize equilibria where consumers rationally choose search strategies th...
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- Publication status:
- Published
- Peer review status:
- Peer reviewed
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Authors
Bibliographic Details
- Publisher:
- Elsevier Publisher's website
- Journal:
- Journal of Economic Theory Journal website
- Volume:
- 172
- Pages:
- 120-162
- Publication date:
- 2017-08-18
- Acceptance date:
- 2017-08-07
- DOI:
- ISSN:
-
1095-7235
- Source identifiers:
-
724712
Item Description
- Keywords:
- Pubs id:
-
pubs:724712
- UUID:
-
uuid:27c825f1-3ed3-4bd2-acff-b8bb8175524e
- Local pid:
- pubs:724712
- Deposit date:
- 2017-08-31
Terms of use
- Copyright holder:
- Janssen et al
- Copyright date:
- 2017
- Notes:
- © 2017 The Authors. Published by Elsevier Inc. Open access: available under a Creative Commons CC-BY 4.0 Licence.
- Licence:
- CC Attribution (CC BY)
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