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Ordered Search and Equilibrium Obfuscation

Wilson, Chris M. - Department of Economics, Oxford University - 2008

This paper demonstrates the incentives for an oligopolist to obfuscate by deliberately increasing the cost with which consumers can locate its product and price. Consumers are allowed to choose the optimal order in which to search firms and firms are able to influence this order through their...

Persistent link: https://www.econbiz.de/10005051141

Why Every Economist Should Learn some Auction Theory

Klemperer, Paul - Department of Economics, Oxford University - 2000

None available

Persistent link: https://www.econbiz.de/10010604844

Applying Auction Theory to Economics

Klemperer, Paul - Department of Economics, Oxford University - 2000

This is a preliminary draft of an Invited Symposium paper for the World Congress of the Econometric Society to be held in Seattle in August 2000. We discuss the strong connections between auction theory and standard economic theory, and argue that auction-theoretic tools and intuitions can...

Persistent link: https://www.econbiz.de/10010605125

Sinking the Internet: Pricing, Sunk Costs, and Market Structure Online

Smith, Howard; Latcovich, Simon - Department of Economics, Oxford University - 2000

characteristics and more concerned about hidden quality characteristics. Online retailers rely more on advertising than traditional …. Advertising and revenue data for the online book market reveal that consumers respond to advertising rather than low prices. As … the market increases, advertising costs escalate and there is no new entry. Advertising to sales ratios and market …

Persistent link: https://www.econbiz.de/10010604885

Entry and Exit in Grocery Retailing: Local Pre-Emption and Social Efficiency

Smith, Howard - Department of Economics, Oxford University - 2000

This paper develops an asymmetric price setting oligopoly model of store opening and closure decisions in the UK supermarket industry which is estimated using a survey of consumer choices and a dataset of store characteristics. The model is used to examine the strategic local entry and exit...

Persistent link: https://www.econbiz.de/10010605032

A More General Theory of Commodity Bundling

Armstrong, Mark - Department of Economics, Oxford University - 2012

This paper discusses the incentive to bundle when consumer valuations are non-additive and/or when products are supplied by separate sellers. Whether integrated or separate, a firm has an incentive to introduce a bundle discount when demand for the bundle is more elastic than the overall...

Persistent link: https://www.econbiz.de/10011004191

Competition in Posted Prices With Stochastic Discounts

Gill, David; Thanassoulis, John - Department of Economics, Oxford University - 2013

We study price competition between firms over public list or posted prices when a fraction of consumers (termed 'bargainers') can subsequently receive discounts with some probability. Such stochastic discounts are a feature of markets in which some consumers bargain explicitly; of markets in...

Persistent link: https://www.econbiz.de/10011004203

Search Advertising

Cornière, Alexandre de - Department of Economics, Oxford University - 2013

Search engines enable advertisers to target consumers based on the query they have entered. In a framework with horizontal product differentiation, imperfect product information and in which consumers incur search costs, I study a game in which advertisers have to choose a price and a set of...

Persistent link: https://www.econbiz.de/10011004434

Competition in Posted Prices With Bargaining

Gill, David; Thanassoulis, John - Department of Economics, Oxford University - 2013

In this paper we study price competition between firms when some consumers attempt tobargain while others buy at the public list or posted prices. Even though bargainers succeed innegotiating discounts off the list prices, their presence dampens competitive pressure in the marketby reducing the...

Persistent link: https://www.econbiz.de/10011133058

Monopolisation and Industry Structure

Nocke, Volker - Department of Economics, Oxford University - 2000

The aim of this paper is to provide empirically testable predictions regarding the relationship between market size and concentration. In a model of endogenous horizontal mergers, it is shown that concentrated outcomes cannot be supported in a free entry equilibrium in large exogenous sunk cost...

Persistent link: https://www.econbiz.de/10010604943

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