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Ordered Search in Differentiated Markets

By Jidong Zhou

Abstract

This paper presents an ordered search model in which consumers search both for price and product fitness. We show that there is price dispersion in equilibrium and prices rise in the order of search. The top firms in consumer search order, though charge lower prices, earn higher profits due to their larger market shares.

Topics: L13 - Oligopoly and Other Imperfect Markets, D83 - Search; Learning; Information and Knowledge; Communication; Belief, D43 - Oligopoly and Other Forms of Market Imperfection
Year: 2009
DOI identifier: 10.1016/j.ijindorg.2010.07.001
OAI identifier: oai:mpra.ub.uni-muenchen.de:13397

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