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cost in order to assess how well they match their needs. We propose a tractable model of price-directed sequential search …
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in a tractable model of price-directed consumer search. We find that (i) firms' equilibrium pricing always induces …
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In markets where sellers' marginal costs of production have a common component, they have informational advantage over buyers regarding those costs. This information asymmetry between sellers and buyers is especially relevant in markets where buyers have to uncover prices through costly search....
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