, after a merger, because insiders raise their prices more than the outsiders, consumers start searching for good deals at the …We study the incentives to merge in a Bertrand competition model where firms sell differentiated products and consumers … search sequentially for satisfactory deals. In the pre-merger symmetric equilibrium, consumers visit firmsrandomly. However …

incentives to unilaterally degrade the quality for some targeted group of consumers in order to weaken competition. …

demand with optimal consumer search. Consumers first choose which products to search; then, once they learn the utility they …

mortgage lender. They yield estimates of the interest-rate elasticity of the demand for housing. Different occupational status …

We develop a theory of imperfect competition with loss-averse consumers. All consumers are fully informed about match … also derive implications for firm strategy and public policy concerning firms’ incentives to inform consumers about their …