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Ordered search

Ordered search I present an ordered‐search model that, in contrast with random‐search models, yields an intuitively appealing equilibrium in which there is price dispersion, prices and profits decline in the order of search and consumers with lower search costs search longer and obtain better deals. These features of the search equilibrium hold regardless of whether consumers are informed of prices prior to searching. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Rand Journal of Economics Wiley

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References (16)

Publisher
Wiley
Copyright
Copyright © 2007 Wiley Subscription Services, Inc., A Wiley Company
ISSN
0741-6261
eISSN
1756-2171
DOI
10.1111/j.1756-2171.2007.tb00047.x
Publisher site
See Article on Publisher Site

Abstract

I present an ordered‐search model that, in contrast with random‐search models, yields an intuitively appealing equilibrium in which there is price dispersion, prices and profits decline in the order of search and consumers with lower search costs search longer and obtain better deals. These features of the search equilibrium hold regardless of whether consumers are informed of prices prior to searching.

Journal

The Rand Journal of EconomicsWiley

Published: Mar 1, 2007

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