Search Direction: Position Externalities and Position Auction Bias.

We formulate a tractable model of pricing under directed search with heterogeneous firm demands. Demand characteristics drive bids in a position auction and enable us to bridge insights from the ordered search literature to those in the position auction literature. Equilibrium pricing implies that t...

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Bibliographic Details

Published in:	Review of Economic Studies Vol. 93; no. 2; pp. 763 - 798
Main Authors:	Anderson, Simon P, Renault, Régis
Format:	Article
Published:	Oxford University Press / USA Mar2026
Subjects:	Economic competition Auctions Bidding strategies Consumers' surplus Market equilibrium
Online Access:	View this record in EBSCOhost