المستودع الأكاديمي جامعة المدينة

Consumer search and oligopolistic pricing : an empirical investigation

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dc.creator Janssen, Maarten C. W.
dc.creator Moraga-González, José Luis
dc.creator Wildenbeest, Matthijs R.
dc.date 2004
dc.date.accessioned 2013-10-16T07:01:59Z
dc.date.available 2013-10-16T07:01:59Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18930
dc.identifier ppn:471199745
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18930
dc.description This paper presents an empirical examination of oligopoly pricing and consumer search. The theoretical model allows for sequential and non-sequential search and, using the theoretical restrictions firm and consumer behavior impose on the data, we study the empirical validity of the models. Two equilibria arise: one with costless search and the other with costly search. We find that the costless search equilibrium works well for products with a relatively low value, and, by implication, a small number of sellers. By contrast, the costly search equilibrium explains the observed data in a manner that is consistent with the underlying theoretical model for almost all products (for 86 out of 87!).
dc.language eng
dc.publisher
dc.relation CESifo working papers 1292
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject D83
dc.subject D40
dc.subject L13
dc.subject C13
dc.subject ddc:330
dc.subject consumer search
dc.subject oligopoly
dc.subject price dispersion
dc.subject maximum likelihood estimation
dc.subject Konsumentenverhalten
dc.subject Informationskosten
dc.subject Suchtheorie
dc.subject Oligopol
dc.subject Theorie
dc.title Consumer search and oligopolistic pricing : an empirical investigation
dc.type doc-type:workingPaper


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