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 …

I examine a search model a la' Burdett and Judd (1983). Consumers are embedded in a consumers network, they may costly … effect of endogenous consumers externalities on market functioning. I first show that when search costs are low consumers … randomize between searching for one price and two price quotations (high intensity search equilibrium). Otherwise, consumers …

We consider a duopoly in a homogenous goods market where part of the consumers are ex ante uninformed about prices … the implications is that firms actually may benefit from consumers having low (rather than high) search costs. …

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 …

We model the idea that when consumers search for products, they first visit the firm whose advertising is more salient …

consumers search for satisfactory deals. In the pre-merger symmetricequilibrium, the probability that a firm is the next one to … raise their pricesmore than what the outsiders do, consumers start searching for good deals at the non-mergingstores. Only … which case their price may even belower than the price of the outsiders. In that case, consumers visit first the merged …