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Retail Trade Concentration Due to Consumers' Imperfect Information

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  • Asher Wolinsky

Abstract

The main idea of this article is that geographical concentration of stores selling similar products can be explained by consumers' imperfect information and their resulting need to search the market. A cluster of stores sustained by these forces is not necessarily located at the point that minimizes consumer transportation costs--a fact that distinguishes it from clustering phenomena which may be explained by Hotelling-type arguments. For the purposes of the analysis this article presents a model of monopolistic competition under imperfect information which could be of independent interest.

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Bibliographic Info

Article provided by The RAND Corporation in its journal Bell Journal of Economics.

Volume (Year): 14 (1983)
Issue (Month): 1 (Spring)
Pages: 275-282

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Handle: RePEc:rje:bellje:v:14:y:1983:i:spring:p:275-282

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Cited by:
  1. Michael Sandfort & Hideo Konishi, 2000. "Expanding Demand through Price Advertisement," Boston College Working Papers in Economics 453, Boston College Department of Economics, revised 21 Jun 2001.
  2. Takanori Ago, 2013. "Demand creation and location: a variable consumer-distribution approach in spatial competition," The Annals of Regional Science, Springer, vol. 51(3), pages 775-792, December.
  3. Eric D. Gould & B. Peter Pashigian & Canice J. Prendergast, 2005. "Contracts, Externalities, and Incentives in Shopping Malls," The Review of Economics and Statistics, MIT Press, vol. 87(3), pages 411-422, August.
  4. Takahashi, Takaaki, 2013. "Agglomeration in a city with choosy consumers under imperfect information," Journal of Urban Economics, Elsevier, vol. 76(C), pages 28-42.
  5. Maria Arbatskaya & Hideo Konishi, 2005. "Referrals in Search Markets," Emory Economics 0521, Department of Economics, Emory University (Atlanta).
  6. Konishi, Hideo & Sandfort, Michael T., 2003. "Anchor stores," Journal of Urban Economics, Elsevier, vol. 53(3), pages 413-435, May.
  7. Gokan, Toshitaka, 2013. "The location of manufacturing firms and imperfect information in transport market," IDE Discussion Papers 398, Institute of Developing Economies, Japan External Trade Organization(JETRO).
  8. Konishi, Hideo, 2005. "Concentration of competing retail stores," Journal of Urban Economics, Elsevier, vol. 58(3), pages 488-512, November.
  9. Kopp, Andreas, 1994. "Price search, bargaining and agglomeration," Kiel Working Papers 618, Kiel Institute for the World Economy.
  10. USHCHEV, Philip & SLOEV, Igor & THISSE, Jacques-François & ,, 2013. "Do we go shopping downtown or in the ‘burbs’? Why not both?," CORE Discussion Papers 2013057, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. Ana Espinola-Arredondo & Esther Gal-Or & Felix Munoz-Garcia, 2009. "When Should a Firm Expand Its Business? The Signaling Implications of Business Expansion," Working Papers 2008-16, School of Economic Sciences, Washington State University.

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