Download or read book Price Dispersion with Directed Search written by Gabriele Camera and published by . This book was released on 2014 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a model that generates empirically plausible price distributions in directed search equilibrium. There are many identical buyers and many identical capacity-constrained sellers who post prices. These prices can be renegotiated to some degree and the outcome depends on the number of buyers who want to purchase the good. In equilibrium all sellers post the same price, demand is randomly distributed, and there is sale price dispersion. Prices and distributions depend on market tightness and on the properties of renegotiation outcomes. In a labor market context, the model generates a strong empirical prediction. If workers can renegotiate the posted wage, then the model predicts a positively skewed and realistic-looking density function of realized wages when the mean number of job-seekers per vacancy is large.
Download or read book Price Dispersion and Consumers Search Under Imperfect Information written by Chiaen John Wu and published by . This book was released on 1992 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Dispersion in a Directed Search Model written by Ce Huang and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: French Abstract: Dispersion de prix dans un modèle de recherche dirigée. Ce papier étudie un modèle de recherche dirigée dans lequel certains acheteurs sont mal informés sur les prix. Nous trouvons que les stratégies des vendeurs sont données par les distributions discrètes dans tout equilibre de prix symmétrique. Quand la proportion des acheteurs qui ne connaissent pas les prix est suffisament élevée, le seul equilibre de prix symmétrique concerne un nombre dénombrable infini des atomes.
Download or read book An Equilibrium Model of Bilateral Search written by Dosung Lee and published by . This book was released on 1982 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Large and Small Sellers written by Guido Menzio and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies equilibrium pricing in a product market for an indivisible good where buyers search for sellers. Buyers search sequentially for sellers, but do not meet every seller with the same probability. Specifically, a fraction of the buyers' meetings lead to one particular large seller, while the remaining meetings lead to one of a continuum of small sellers. In this environment, the small sellers would like to set a price that makes the buyers indifferent between purchasing the good and searching for another seller. The large seller would like to price the small sellers out of the market by posting a price that is low enough to induce buyers not to purchase from the small sellers. These incentives give rise to a game of cat and mouse, whose only equilibrium involves mixed strategies for both the large and the small sellers. The fact that the small sellers play mixed strategies implies that there is price dispersion. The fact that the large seller plays mixed strategies implies that prices and allocations vary over time. We show that the fraction of the gains from trade accruing to the buyers is positive and non-monotonic in the degree of market power of the large seller. As long as the large seller has some positive but incomplete market power, the fraction of the gains from trade accruing to the buyers depends in a natural way on the extent of search frictions.
Download or read book Existence and Persistence of Price Dispersion written by Saul Lach and published by . This book was released on 2002 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a unique data set on store-level monthly prices of four homogenous products sold in Israel, I study the existence and characteristics of the dispersion of prices across stores, as well as its persistence over time. I find that price dispersion prevails even after controlling for observed and unobserved product heterogeneity. Moreover, intra-distribution mobility is significant: stores move up and down the cross-sectional price distribution. Thus, consumers cannot learn about stores that consistently post low prices. As a consequence, price dispersion does not disappear and persists over time as predicted by Varian's (1980) model of sales
Download or read book Price Dispersion in U S Manufacturing written by Thomas A. Abbott and published by . This book was released on 1992 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Dispersion Search Externalities and the Law written by Roger A. Bowles and published by . This book was released on 1975 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Search Technology Staggered Price Setting and Price Dispersion written by Arthur Fishman and published by . This book was released on 1988 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Almost Competitive Price Dispersion with Buyer Search written by James Dow and published by . This book was released on 1987 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Dispersion Price Flexibility and Consumer Search written by John McMillan and published by London : Department of Economics, University of Western Ontario. This book was released on 1983 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Dispersion and Demand Uncertainty written by Benjamin Eden and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Relative Price Dispersion written by Greg Kaplan and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price directed Search and Collusion written by Martin Obradovits and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In many (online) markets, consumers can readily observe prices, but need to examine individual products at positive cost in order to assess how well they match their needs. We propose a tractable model of price-directed sequential search in a market where firms compete in prices. Each product meets consumers' basic needs, however they are only fully satisfied with a certain probability. In our setup, four types of pricing equilibria emerge, some of which entail inefficiencies as not all consumers are (always) served. We then lend our model to analyze collusion. We find that for any number of firms, there exists a parameter region in which the payoff-dominant symmetric collusive equilibrium gives rise to a higher expected total social welfare than the repeated one-shot Nash equilibrium. In other regions, welfare is identical under collusion and merely consumer rents are transferred, or both welfare and consumer rents are reduced. An all-inclusive cartel maximizing industry profit increases welfare for an even larger set of parameters, but may also be detrimental to it.
Download or read book Bargaining written by Emin Karagözoğlu and published by Springer Nature. This book was released on 2022-04-18 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Edited Collection provides a rigorous and rich overview of current bargaining research in economics and related disciplines, as well as a discussion of future directions. The Editors create cross-disciplinary and cross-methodological synergies by bringing together bargaining researchers from various fields, including game theory, experimental economics, political economy, autonomous negotiations, artificial intelligence, environmental economics and behavioral operations management; as well as using various methods, including the strategic approach, axiomatic approach, empirical research, lab and field experiments, machine learning and decision support systems. Offering insights into the theoretical foundations of bargaining research, traditional applications to bargaining research and topics of growing importance due to new advances in technology and the changing political and physical landscape of the world, this book is a key tool for anyone working on or interested in bargaining.
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Download or read book An Experimental Investigation of Price Dispersion and Cycles written by Timothy N. Cason and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
