This paper studies the welfare effects of the relative price variability arising from inflation. When agents interact … in anonymous markets, with customers buying from new suppliers each period, relative price variability benefits customers … informativeness of prices makes demand less price-elastic, thereby increasing markups. Both effects can be quantitatively significant …

in the market for financial services. The analysis presents a new model of competition between banks, as banks' price …

whether information use undermines brand. We find that individuals who take up using price comparison sites reduce their … shopping at a broad group of branded retailers by about a tenth. Users of pure price comparison sites, such as DealTime and … mySimon, also reduce their Amazon by about a tenth, while individuals using BizRate, which provides both price comparison and …

fundamentals, but still forecasts future price (by forecasting future discount factors). Empirical work based on the analysis shows … immediate price impact of shocks to inventory information is large, roughly 50 percent of that from public information shocks …

a large price discount for the good. The combined evidence supports the self-signaling theory whereby price discounts …