A key feature of insurance markets is that the cost of selling insurance policies is contingent upon not only the number of policies sold but to whom they are sold. This differentiates insurance markets from conventional markets and admits novel strategies, such as segmentation strategies,...

This paper argues that intermediaries in decentralized markets can affect buyer welfare both directly, by reducing the expenses of buyers with high search cost but also indirectly, through a search-externality that affects the prices paid by those buyers that do not use intermediaries. These two...

In spatial competition firms are likely to be uncertain about demand when launching products either because of shifting demographics or of asymmetric information about preferences. This paper considers two types of prices: those set on prior information and flexible prices which adjust across...

In spatial competition iuml;B01rms are likely to be uncertain about consumer locations when launching products either because of shifting demographics or of asymmetric information about preferences. Realistically distributions of consumer locations should be allowed to vary over states and need...