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convergent to zero as the number of firms increases. As a result, when the econometrician has price data from only one market …
Persistent link: https://www.econbiz.de/10010325345
groups which either have quite high or quite low search costs. Search frictions confer a significant amount of market power …
Persistent link: https://www.econbiz.de/10010325352
parameters for which non-shoppers do not fully participate in the market becomes larger as the number of shoppers decreases and … firms. Welfare falls as firms enter the market. We show that monopoly pricing never obtains with truly costly search. …
Persistent link: https://www.econbiz.de/10010325399
). We show that market shares data from a single market do not provide sufficient information to identify the search cost …
Persistent link: https://www.econbiz.de/10010325803
aggregate market share data and individual level data on search and purchases. To deal with the dimensionality problem that …
Persistent link: https://www.econbiz.de/10014321788
' participation decisions turns out to be critical for understanding how search costs affect market power. This is because the two …
Persistent link: https://www.econbiz.de/10010398644
' participation decisions turns out to be critical for understanding how search costs affect market power. This is because the two …
Persistent link: https://www.econbiz.de/10010491314
In many markets consumers have imperfect information about the utility they derive from the products that are on offer and need to visit stores to find the product that is the most preferred. This paper develops a discrete-choice model of demand with optimal consumer search. Consumers first...
Persistent link: https://www.econbiz.de/10010491419
convergent to zero as the number of firms increases. As a result, when the econometrician has price data from only one market …
Persistent link: https://www.econbiz.de/10011373819
). We show that market shares data from a single market do not provide sufficient information to identify the search cost …
Persistent link: https://www.econbiz.de/10011380935