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Prices and heterogeneous search costs.

We study price formation in a model of consumer search for differentiated products in which consumers have heterogeneous search costs. We provide conditions under which a pure-strategy symmetric Nash equilibrium exists and is unique. Search costs affect two margins-the intensive search margin (or se...

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Published in:RAND Journal of Economics (Wiley-Blackwell) Vol. 48; no. 1; pp. 125 - 147
Main Authors: Moraga‐González, José Luis, Sándor, Zsolt, Wildenbeest, Matthijs R.
Format: Article
Published: Wiley-Blackwell Spring2017
Subjects:
United States
Electronic commerce
Consumer behavior
Investments
Pricing
Nash equilibrium
Mutual funds
Shopping
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