کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
957765 1478756 2006 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Search, common knowledge, and competition
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Search, common knowledge, and competition
چکیده انگلیسی

This paper analyzes the effects of buyer search costs and seller private and common knowledge on seller competition. It shows that lack of common knowledge results in the equilibrium price continuously decreasing to the perfectly competitive one as buyer search costs for price decrease from positive for all buyers to zero for all buyers, even if each market agent's uncertainty (in the private knowledge) is small. At the same time, if the uncertainty of each seller about buyer valuations is small, the effects of a small change in the search costs or of information structure on pricing may be large (but continuous).

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 130, Issue 1, September 2006, Pages 95–108
نویسندگان
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