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!).
- Language
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Englisch
- Bibliographic citation
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Series: Tinbergen Institute Discussion Paper ; No. 04-071/1
- Classification
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Wirtschaft
Estimation: General
Market Structure, Pricing, and Design: General
Oligopoly and Other Imperfect Markets
- Subject
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consumer search
oligopoly
price dispersion
maximum likelihood estimation
Konsumentenverhalten
Informationskosten
Suchtheorie
Oligopol
Theorie
- Event
-
Geistige Schöpfung
- (who)
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Janssen, Maarten C.W.
Moraga-Gonzalez, Jose Luis
Wildenbeest, Matthijs R.
- Event
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Veröffentlichung
- (who)
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Tinbergen Institute
- (where)
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Amsterdam and Rotterdam
- (when)
-
2004
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- Janssen, Maarten C.W.
- Moraga-Gonzalez, Jose Luis
- Wildenbeest, Matthijs R.
- Tinbergen Institute
Time of origin
- 2004
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Minimum Price Guarantees In a Consumer Search Model
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Consumer Search Costs and the Incentives to merge under Bertrand Competition
Risk and Loss Aversion, Price Uncertainty and the Implications for Consumer Search
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