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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18930| Title: | Consumer search and oligopolistic pricing : an empirical investigation |
| Keywords: | D83 D40 L13 C13 ddc:330 consumer search oligopoly price dispersion maximum likelihood estimation Konsumentenverhalten Informationskosten Suchtheorie Oligopol Theorie |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| 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!). |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/18930 |
| Other Identifiers: | http://hdl.handle.net/10419/18930 ppn:471199745 |
| Appears in Collections: | EconStor |
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