In recent years, a growing literature has claimed that the market microstructure is sufficient to generate the so-called stylized facts without any reference to the behaviour of market players. Indeed, qualitative stylized-facts can be generated with zero-intelligence traders (ZITs) but we...

This paper qualifies and quantifies what is meant by higher price level and dispersion in an oligopoly market with imperfectly informed consumers for both Fixed Sample Search and Sequential Search. The objective is to identify the conditions under which prices become lower and price dispersion...

Since the introduction of Reinforcement Learning (RL) in Game Theory, a growing literature is concerned with the theoretical convergence of RL-driven outcomes towards Nash equilibrium. In this paper, we apply this issue to a search-theoretic framework (posted-price market) where sellers are...