Recent IT research has analyzed how the performance of IT-enabled markets may differ from conventional markets. This literature has made two unexpected empirical findings. First, ITenabled markets for commodity goods exhibit significant price dispersion. Second, well-known retailers in these...

There have been many claims that the Internet represents a new nearly "frictionless market." Our research empirically analyzes the characteristics of the Internet as a channel for two categories of homogeneous products-books and CDs. Using a data set of over 8,500 price observations collected...

Internet presumably reduces search cost driving price to the competitivelevel. Evidence from empirical research quantifying dispersion in theelectronic based markets has yield mixed results. More recent researchhas documented near zero dispersion in the electronic markets usingtransaction...

The growth of Internet price search tools, notably shopbots, has reduced consumers’ search costs for price and some product characteristics. While a variety of analytic models predict that increased consumer search through shopbots will lower price levels among competing retailers, there is no...

We study trading and prices in newly issued municipal bonds. Municipals, which trade in decentralized, broker-dealer markets, are underpriced when issued, but unlike equities the average price rises slowly over a period of several days. We document high levels of price dispersion in newly issued...

The Livestock Mandatory Reporting Act (MPR) of 1999 was implemented in April 2001. Empirical evidence indicates a significant change in intra-week price dispersion associated with publicly reported fed cattle grid premiums and discounts occurring after MPR implementation. The research objective...

The advent of the internet has revolutionized the way people buy and sell. The internet is characterized by increased access to information. This increased information should foster convergence to the “law of one price,” for homogenous goods. The surge of electronic markets has motivated a...

A central result in price theory is the law of one price: prices of a homogeneousgood sold at different locations should be equal. Empirical studies of thelaw of one price find that it is often violated.In my dissertation I explore the allocation problem that suppliers face whensupplying...