Gu, Yiquan; Hehenkamp, Burkhard - In: Journal of Institutional and Theoretical Economics (JITE) 170 (2014) 2, pp. 225-248
This paper studies welfare consequences of consumer-side market transparency with endogenous entry of firms. Different from most studies, we consider the unique symmetric entry equilibrium, which is in mixed strategies. We identify two effects of market transparency on welfare: a competition...