view. We analyzethemarket for a homogeneous good where some consumers are fully informedwhile others are not. Depending on … these equilibria. For example, a reduction insearch cost may raise equilibrium prices when consumers' searchintensity is low …, but reduce prices when consumers search intensityis high. These different comparative statics results may explain themixed …

We consider a duopoly in a homogenous goods market where part of the consumers are ex ante uninformed about prices …. Information can come through two different channels: advertising and sequential consumer search. We arrive at the following … results. First, there is no monotone relationship between prices and the degree of advertising. Second, advertising and search …

The search literature assumes that consumers know which firms sell products they are looking for, but are unaware of … the particular variety and the prices at which each firm sells. In this paper, we consider the situation where consumers … whether or not to carry the product. Firms may advertise, informing consumers not only of the price they charge, but also of …

We study mergers in a market where N firms sell a homogeneous good and consumers search sequentially to discover prices … environment, the search behavior of consumers. Endogenous changes in consumer search may strengthen, or alternatively, offset the …

guarantees are notadvertised and only known to consumers when they come to the shop.We show that in such an environment, minimum … price guarantees increasethe value of buying the good and therefore increase consumers’ reservationprices. This increase is … so large that even after accounting for thefact that some consumers will buy at lower prices, firms profits are …