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Comparison Shopping as a Simultaneous Move Game

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  • Wilde, Louis L

Abstract

This paper analyzes simultaneous move models of comparison shopping. It shows that the equilibria in Wilde-Schwartz (1979) can be rationalized as symmetric mixed strategies in an appropriately defined game in which information-acquisition costs are endogenous. It also shown that, in the simultaneous move version of Salop-Stiglitz (1977), nonexistence of equilibrium is not a problem. In fact, a variety of forms of equilibria emerge in that model: pure strategy, mixed strategy, and blends of the two. Copyright 1992 by Royal Economic Society.

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  • Wilde, Louis L, 1992. "Comparison Shopping as a Simultaneous Move Game," Economic Journal, Royal Economic Society, vol. 102(412), pages 562-569, May.
    • Handle: RePEc:ecj:econjl:v:102:y:1992:i:412:p:562-69
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    Cited by:

    1. Ed Hopkins & Robert M. Seymour, "undated". "Price Dispersion: an Evolutionary Approach," ELSE working papers 043, ESRC Centre on Economics Learning and Social Evolution.
    2. Ed Hopkins & Robert M. Seymour, 2002. "The Stability of Price Dispersion under Seller and Consumer Learning," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(4), pages 1157-1190, November.
    3. Henrik Orzen & Martin Sefton, 2003. "Buyer Subsidies in an Equilibrium Model of Price Dispersion," German Economic Review, Verein für Socialpolitik, vol. 4(4), pages 497-501, November.
    4. Ratul, Lahkar, 2011. "The dynamic instability of dispersed price equilibria," Journal of Economic Theory, Elsevier, vol. 146(5), pages 1796-1827, September.
    5. Henrik Orzen & Martin Sefton, 2003. "Buyer Subsidies in an Equilibrium Model of Price Dispersion," German Economic Review, Verein für Socialpolitik, vol. 4, pages 497-501, November.

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