کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5072702 1373513 2009 20 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Strategic complementarities and search market equilibrium
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Strategic complementarities and search market equilibrium
چکیده انگلیسی

In this paper, we apply supermodular game theory to the equilibrium search literature with sequential search. We identify necessary and sufficient conditions for the pricing game to exhibit strategic complementarities and prove existence of equilibrium. We then show that price dispersion is inherently incompatible with strategic complementarities in the sense that the Diamond Paradox obtains when firms are identical and is robust within the class of search cost densities that are small near zero and support strategic complementarities. We also show that a major criticism of the literature, that agents act as if they know the distribution of prices, can be justified in the sense of convergent best response dynamics.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Games and Economic Behavior - Volume 66, Issue 2, July 2009, Pages 959-978
نویسندگان
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