This paper examines the eect of price matching guarantees (PMGs) in a sequential search model. PMGs are simultaneously chosen with prices and some consumers (shoppers) know the rms' decisions before buying, while others (non-shoppers) enter a shop rst before observing a rm's price and whether or...

This paper analyzes dynamic selection effects in markets for credence goods where price structures are determined by a regulator or by central management. There are different types of consumers and each type requires a different service or treatment level. We show that for a large class of price...

When consumers search sequentially for prices and product matches, their beliefs of what they will encounter at the next rm are important in deciding whether or not to continue to search. In search environments where retailers have a common cost that is not known to consumers and is either the...

This paper shows that the double marginalization problem signicantly underestimates the ineciencies arising from vertical relations in markets where consumers who are uninformed about the wholesale arrangements be- tween manufacturers and retailers search for the best retail price. Consumer...

Consider a Bertrand model in which each firm may be inactive with a known probability, so the number of active firms is uncertain. This activity level can be endogenized in several ways ---whether to incur a fixed cost of activity, for example, or what level of output to choose. Our model has a...