Apart from reducing buyer search costs, web-based commerce has also enabled the use ofintelligent agent technologies that reduce seller search costs by targeting buyers, customizing,and pricing products in real-time. Our model of an electronic market with customizable productsanalyzes the...

We present a model of dynamic monopoly pricing for a good that displaysnetwork effects. In contrast with the standard notion of arational-expectations equilibrium, we model consumers as boundedlyrational, and unable either to pay immediate attention to each pricechange, or to make accurate...

Will the sharing economy create long-run economic value? We develop a new dynamic model of peer-to-peer Internet-enabled rental markets for durable goods in which consumers may also trade their durable assets in (traditional) secondary markets, transaction costs and depreciation rates may vary...