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We integrate an agency problem into search theory to study executive compensation in a market equilibrium. A CEO can …
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We set up a game-theoretic model to examine the oligopolistic price competition, considering two features of online search: the existence of a common search ordering and shoppers who have non-positive search cost. We find that in equilibrium firms set their prices probabilistically rather than...
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This paper presents an empirical examination of oligopoly pricing and consumer search. The theoretical model allows for …
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