Arbeitspapier
Consumer Search and Oligopolistic Pricing: An Empirical Investigation
This paper presents an empirical examination of oligopoly pricingand consumer search. The theoretical model allows for sequential andnon-sequential search and using the theoretical restrictions firm andconsumer behavior impose on the data we study the empirical validity of themodels. Two equilibria arise: one with costless search and the other withcostly search. We find that the costless search equilibrium works well forproducts with a relatively low value, and, by implication, a small number ofsellers. By contrast, the costly search equilibrium explains the observeddata in a manner that is consistent with the underlying theoretical modelfor almost all products (for 86 out of 87!).
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 04-071/1
- Klassifikation
-
Wirtschaft
Estimation: General
Market Structure, Pricing, and Design: General
Oligopoly and Other Imperfect Markets
- Thema
-
consumer search
oligopoly
price dispersion
maximum likelihood estimation
Konsumentenverhalten
Informationskosten
Suchtheorie
Oligopol
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Janssen, Maarten C.W.
Moraga-Gonzalez, Jose Luis
Wildenbeest, Matthijs R.
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Janssen, Maarten C.W.
- Moraga-Gonzalez, Jose Luis
- Wildenbeest, Matthijs R.
- Tinbergen Institute
Entstanden
- 2004
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