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Posting multiple prices to reduce the effectiveness of consumer price search
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Ireland, Norman J. (2007) Posting multiple prices to reduce the effectiveness of consumer price search. Journal of Industrial Economics, Vol.55 (No.2). pp. 235-263. doi:10.1111/j.1467-6451.2007.00310.x ISSN 0022-1821.
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Official URL: http://dx.doi.org/10.1111/j.1467-6451.2007.00310.x
Abstract
In a model of competition with imperfect consumer price information and incomplete price search, some consumers may end up comparing prices originating from the same supplier: either because one firm sets multiple prices or because a group of firms colludes. This leads to added monopoly power for these firms, and average prices in the mixed strategy equilibrium become higher. There is a shift in welfare from consumers to producers, both with exogenous and endogenous consumer search behaviour. However consumers might search more or less with multiple prices. The implications for the price-setting equilibrium, competition policy and recent judgements are considered.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HG Finance H Social Sciences > HC Economic History and Conditions |
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Divisions: | Faculty of Social Sciences > Economics | ||||
Journal or Publication Title: | Journal of Industrial Economics | ||||
Publisher: | Wiley-Blackwell Publishing Ltd. | ||||
ISSN: | 0022-1821 | ||||
Official Date: | June 2007 | ||||
Dates: |
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Volume: | Vol.55 | ||||
Number: | No.2 | ||||
Number of Pages: | 29 | ||||
Page Range: | pp. 235-263 | ||||
DOI: | 10.1111/j.1467-6451.2007.00310.x | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
Data sourced from Thomson Reuters' Web of Knowledge
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