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Challenging the incumbent: entry in markets with captive consumers and taste heterogeneity

Oertel, Christian; Schmutzler, Armin - 2021

We analyze entry of a firm with a new and differentiated product into a market with two properties: An existing … incumbent has a captive consumer base, and all consumers have heterogeneous tastes. The interaction of the share of captive … consumers with the degree of taste heterogeneity leads to non-monotone effects of both parameters on entry. In particular, a …

Persistent link: https://www.econbiz.de/10012520198

Quality predictability and the welfare benefits from new products : evidence from the digitization of recorded music

Aguiar, Luis; Waldfogel, Joel - 2015

using an explicit structural model of demand and entry with potentially unpredictable product quality. Based on plausible …

Persistent link: https://www.econbiz.de/10011979989

Consumer Surplus-enhancing Collusions, Patent Pools, and R&D

Chen, Linfeng - 2019

This study reveals two different rationales for consumer surplus-enhancing collusion. The first model considers two competitive firms in the final product market, each with one essential patent necessary for production. The equilibrium price under collusion is lower than the price under...

Persistent link: https://www.econbiz.de/10012894295

Electronic Commerce and Retail Channel Substitution

Janssen, Maarten C.W.; van der Noll, Rob - 2002

We analyze a market where firms compete in a conventional and an electronicretail channel. Consumers easily compare prices online, but some incur purchaseuncertainties on the online channel. We investigate the market shares of the two retailchannels and the prices that are charged. We find that...

Persistent link: https://www.econbiz.de/10010324893

On Mergers in Consumer Search Markets

Janssen, Maarten C.W.; Moraga-Gonzalez, Jose Luis - 2007

We study mergers in a market where N firms sell a homogeneous good and consumers search sequentially to discover prices. The main motivation for such an analysis is that mergers generally affect market prices and thereby, in a search environment, the search behavior of consumers. Endogenous...

Persistent link: https://www.econbiz.de/10010325231

Nonparametric Estimation of the Costs of Non-Sequential Search

Moraga-Gonzalez, Jose Luis; Sandor, Zsolt; Wildenbeest, … - 2008

We study a consumer non-sequential search oligopoly model with search cost heterogeneity. We first prove that an equilibrium in mixed strategies always exists. We then examine the nonparametric identification and estimation of the costs of search. We find that the sequence of points on the...

Persistent link: https://www.econbiz.de/10010325345

Consumer Search and Oligopolistic Pricing: An Empirical Investigation

Janssen, Maarten C.W.; Moraga-Gonzalez, Jose Luis; … - 2004

This paper presents an empirical examination of oligopoly pricingand consumer search. The theoretical model allows for sequential andnon-sequential search and using the theoretical restrictions firm andconsumer behavior impose on the data we study the empirical validity of themodels. Two...

Persistent link: https://www.econbiz.de/10010325459

Advertising and Consumer Search in a Duopoly Model

Janssen, Maarten C.W.; Non, Mariëlle C. - 2005

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...

Persistent link: https://www.econbiz.de/10010325593

Minimum Price Guarantees In a Consumer Search Model

Janssen, Maarten; Parakhonyak, Alexei - 2009

This paper is the first to examine the effect of minimum price guaranteesin a sequential search model. Minimum price 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...

Persistent link: https://www.econbiz.de/10010325862

Advertising for Attention in a Consumer Search Model

Haan, Marco A.; Moraga-Gonzalez, Jose Luis - 2009

We model the idea that when consumers search for products, they first visit the firm whose advertising is more salient. The gains a firm derives from being visited early increase in search costs, so equilibrium advertising increases as search costs rise. This may result in lower firm profits...

Persistent link: https://www.econbiz.de/10010325866

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