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See also the article <I>Search Costs, Demand-side Economies, and the Incentives to merge under Bertrand Competition … merge in a Bertrand competitionmodel where firms sell differentiated products and consumers search the marketfor … than the outsiders so consumers search forgood deals first at the non-merging stores and then, if they do not find …
Persistent link: https://www.econbiz.de/10011255742
decide whether to search for a new wild organism with a certain quality or to produce the drug in question with an extant …
Persistent link: https://www.econbiz.de/10011256729
I examine a search model a la' Burdett and Judd (1983). Consumers are embedded in a consumers network, they may costly … search for price quotations and the information gathered are non-excludable along direct links. This allows me to explore the … effect of endogenous consumers externalities on market functioning. I first show that when search costs are low consumers …
Persistent link: https://www.econbiz.de/10011257072
We examine wage competition in a model where identical workers choose the number of jobs to apply for and identical firms simultaneously post a wage. The Nash equilibrium of this game exhibits the following properties: (i) an equilibrium where workers apply for just one job exhibits unemployment...
Persistent link: https://www.econbiz.de/10011257112
This paper builds a consumer search model where the cost of going back to stores already searched is explicitly taken … into account. We show that the optimal search rule under costly recall is very different from the optimal search rule under … perfect recall. Under costly recall, the optimal search behaviour is nonstationary and, moreover, the reservation price is not …
Persistent link: https://www.econbiz.de/10011257200
betweenfirms,thereby lowering prices and increasing economic welfare. This paperpresents a search model that provides a different …, but reduce prices when consumers search intensityis high. These different comparative statics results may explain themixed …
Persistent link: https://www.econbiz.de/10011257322
This discussion paper led to a publication in 'Macroeconomic Dynamics' (2013). Vol. 17(8), pp. 1574-1604.<P> The recent macroeconomic literature stresses the importance of managing heterogeneous expectations in the formulation of monetary policy. We use a stylized macro model of Howitt (1992) to...</p>
Persistent link: https://www.econbiz.de/10011255558
We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting...
Persistent link: https://www.econbiz.de/10011256224
This paper gives an overview and evaluates the literature on Microfoundations.<P> See also 'Microfoundations: A Critical Inquiry', Routledge, London, 1993 Reviewed in Economic Journal, 1994; De Economist, 1995; Journal of Economic Methodology, 1996; Economics and Philosophy, 1996).
Persistent link: https://www.econbiz.de/10011256223
search for a job-type that matches their skill. They face a trade-off between match quality and the cost of extended search …. This trade-off differs between regions, because search is more efficient in larger regions. Then, interregional mobility … commodities that are search intensive, i.e. that require a wide variety of tasks and make use of scarce worker types. Empirical …
Persistent link: https://www.econbiz.de/10011255840