Consumer Search and Retail Market Structure
نویسندگان
چکیده
منابع مشابه
Consumer Search and Retail Market Structure
This paper proposes a framework for studying how consumer search and multiproduct purchase a¤ect retail market structure. To provide one-stop shopping convenience and attract more consumers, single-product shops supplying di¤erent products can merge to form a multiproduct retailer. The merger, however, also changes the market structure and a¤ects price competition. When the search friction is n...
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This study investigates the relationship between consumer search costs, inflation, and firm markups in retail trade by employing actual measures of consumer search cost gathered by way of an online consumer survey. Consistent with theory, results indicate that markups can be higher if consumer search costs are higher. Results from panel data also show that increases in inflation lead to increas...
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It has been documented that retail gasoline prices respond more quickly to increases in wholesale price than to decreases. However, there is very little theoretical or empirical evidence identifying the market characteristics responsible for this behavior. This paper presents a new theoretical model of asymmetric adjustment that empirically matches observed retail gasoline price behavior better...
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Laboratory markets are conducted to evaluate the effects of consumer search costs on market performance. The primary research goal is to assess the behavioral relevance of Diamond’s (1971) paradoxical conclusion that the injection of a small consumer search cost alters the equilibrium price prediction from competitive to monopoly levels. Although monopoly prices are not consistently observed, w...
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ژورنال
عنوان ژورنال: Management Science
سال: 2019
ISSN: 0025-1909,1526-5501
DOI: 10.1287/mnsc.2018.3058