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Is the Effect of Competition on Price Dispersion Nonmonotonic? Evidence from the U.S. Airline Industry
Dai, Mian; Liu, Qihong; Serfes, Konstantinos - In: The Review of Economics and Statistics 96 (2014) 1, pp. 161-170
We investigate the effect of competition on price dispersion in the airline industry. Using panel data from 1993 to … 2008, we find a nonmonotonic effect of competition on price dispersion. An increase in competition is associated with …
Persistent link: https://www.econbiz.de/10011009940
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The competitive effect of multi market contact
Arie, Guy; Markovich, Sarit; Varela, Mauricio J. - 2012
Changes in the extent of multi-market contact (MMC) between firms often affect market outcomes – quantities and prices. We show that a strategic but purely competitive effect of changes in MMC can change the quantity provided in a market by a firm by as much as 50%, and the prices a firm sets...
Persistent link: https://www.econbiz.de/10009699389
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A dynamic oligopoly game of the US airline industry: Estimation and policy experiments
Aguirregabiria, Victor; Ho, Chun-Yu - In: Journal of Econometrics 168 (2012) 1, pp. 156-173
in the US airline industry. Our results are based on the estimation of a dynamic game of network competition using data …
Persistent link: https://www.econbiz.de/10010574073
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Mixed pricing in oligopoly with limited monopoly
Wen, Zhong - In: Economics Letters 125 (2014) 1, pp. 87-92
We analyze price competition between two brands. Buyers consist of switchers and two segments of customers with limited … brand loyalty. We identify a unique symmetric mixed-strategy price equilibrium and find that competition is most relaxed …
Persistent link: https://www.econbiz.de/10010939501
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The informational divide
Nermuth, Manfred; Pasini, Giacomo; Pin, Paolo; … - In: Games and Economic Behavior 78 (2013) C, pp. 21-30
We propose a model of price competition where consumers exogenously differ in the number of prices they compare. Our … model can be interpreted either as a non-sequential search model or as a network model of price competition. We show that (i …
Persistent link: https://www.econbiz.de/10010608397
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Consumer search with asymmetric price sampling
Astorne-Figari, Carmen; Yankelevich, Aleksandr - In: Economics Letters 122 (2014) 2, pp. 331-333
We explore asymmetries in the way consumers sample prices in a simple sequential search framework. In equilibrium, the price distribution of a firm catering to more local consumers first-order stochastically dominates that of its rival. Prices rise in the degree of asymmetry.
Persistent link: https://www.econbiz.de/10010743711
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A simple model of price dispersion
Chudik, Alexander - In: Economics Letters 117 (2012) 1, pp. 344-347
This article considers a simple stock-flow matching model with fully informed market participants. Unlike the standard matching literature, prices are assumed to be set ex-ante. When sellers pre-commit themselves to sell their products at an advertised price, the unique equilibrium is...
Persistent link: https://www.econbiz.de/10010580442
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Personalized Pricing and Advertising: An Asymmetric Equilibrium Analysis
Anderson, Simon P; Baik, Alicia; Larson, Nathan - C.E.P.R. Discussion Papers - 2015
We study personalized price competition with costly advertising among n quality-cost differentiated firms. Strategies …
Persistent link: https://www.econbiz.de/10011186629
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Asymmetric Price Effects of Competition
Lach, Saul; Moraga-González, José-Luis - C.E.P.R. Discussion Papers - 2015
. Finally, consumer gains from competition depend on how well informed they are and turn out to be larger for relatively …
Persistent link: https://www.econbiz.de/10011186630
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Market structure and market performance in E-commerce
Hackl, Franz; Kummer, Michael E.; Winter-Ebmer, Rudolf; … - In: European Economic Review 68 (2014) C, pp. 199-218
competition on the markup of the price leader. One more firm in the market is associated with a reduction of the price leader …׳s markup which is equivalent to competition between existing firms for an additional 3weeks in the product life cycle. Our … results support search theoretic models and contradict models of monopolistic competition. Moreover our results support the …
Persistent link: https://www.econbiz.de/10011048610