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Competition When Consumers Have Switching Costs: An Overview with Applications to Industrial Organization, Macroeconomics, and International Trade.

Abstract:

We survey recent work on competition in markets in which consumers have costs of switching between competing firms' products, even when all firms' products are functionally identical. We address issues in macroeconomics and international trade, as well as industrial organization: In a market with switching costs (or 'brand loyalty'), a firm's current market share is an important determinant of its future profitability. We examine how the firm's choice between setting a low price to capture ma...

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Journal:
Review of Economic Studies More from this journal
Volume:
62
Issue:
4
Pages:
415 - 439
Publication date:
1995-01-01
ISSN:
0034-6527
Language:
English
UUID:
uuid:fdf43d66-6b25-456e-a5d6-ca036b9c5165
Local pid:
oai:economics.ouls.ox.ac.uk:11386
Deposit date:
2011-08-16

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