New product introduction with costly search
نویسندگان
چکیده
منابع مشابه
Costly Search and Design
Firms compete by choosing both a price and a design from a family of designs that can be represented as demand rotations. Consumers engage in costly sequential search among rms. Each time a consumer pays a search cost he observes a new o¤ering. An o¤ering consists of a price quote and a new good, where goods might vary in the extent to which they are good matches for the consumer. In equilibri...
متن کاملNew Complex Product Introduction by Means of Product Configuration
Configuration systems have widely been applied to efficiently address the customization responsiveness squeeze of companies dealing with Mass Cus-tomization. Over time, several frameworks have been introduced to enable their systematic planning , analyses, development and implementation. Traditional research has thereby either focused on defining modelling techniques for the configuration model...
متن کاملMoney, Search and Costly Matchmaking
I examine the robustness of monetary equilibria in a random matching model where a more efficient mechanism for trade is available. Agents choose between two trading sectors: the search and the intermediated sector. In the former, trade partners arrive randomly and there is a trading externality. In the latter a costly matching technology provides deterministic double-coincidence matches. Multi...
متن کاملCostly Buyer Search in Laboratory Markets with Seller Advertising
In this laboratory experiment sellers simultaneously post prices and choose whether to advertise this price. Buyers then decide whether to buy from a seller whose advertisement they have received, or engage in costly sequential search to obtain price quotes from other sellers. In the unique symmetric equilibrium, sellers either charge a high unadvertised price or randomize in an interval of low...
متن کاملEfficiency of a Stochastic Search with Punctual and Costly Restarts
The mean completion time of a stochastic process may be rendered finite and minimised by a judiciously chosen restart protocol, which may either be stochastic or deterministic. Here we study analytically an arbitrary stochastic search subject to an arbitrary restart protocol, each characterised by a distribution of waiting times. By a direct enumeration of paths we construct the joint distribut...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2006
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2005.09.004