incumbent sellers sell at higher prices than entrants. This study develops a theory of dynamic pricing that explains these facts …

incumbent sellers sell at higher prices than entrants. This study develops a theory of dynamic pricing that explains these facts …

We study the optimal behaviour of a cartel faced with fringe competition and imperfectly attentive consumers …. Intertemporal price dispersion obfuscates consumer price comparison which aids the cartel through two channels: it reduces the … effectiveness of free riding by the fringe; and it relaxes the cartel's internal incentive constraints. Our theory explains the …

This note presents necessary conditions for non-degenerate price dispersion in a continuous atomistic market where … buyers with price-elastic demand search sequentially for the lowest price, and firms maximize profit subject to a variable …