Failing to Choose the Best Price: Theory, Evidence, and Policy
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Michael Grubb, 2015. "Failing to Choose the Best Price: Theory, Evidence, and Policy," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(3), pages 303-340, November.
References listed on IDEAS
- Kate Ho & Joseph Hogan & Fiona Scott Morton, 2017.
"The impact of consumer inattention on insurer pricing in the Medicare Part D program,"
RAND Journal of Economics, RAND Corporation, vol. 48(4), pages 877-905, December.
- Kate Ho & Joseph Hogan & Fiona Scott Morton, 2015. "The Impact of Consumer Inattention on Insurer Pricing in the Medicare Part D Program," NBER Working Papers 21028, National Bureau of Economic Research, Inc.
- Scott Morton, Fiona & Ho, Kate & Hogan, Joseph, 2015. "The Impact of Consumer Inattention on Insurer Pricing in the Medicare Part D Program," CEPR Discussion Papers 10976, C.E.P.R. Discussion Papers.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2016.
"Competition for Attention,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 83(2), pages 481-513.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, "undated". "Competition for Attention," Working Paper 312541, Harvard University OpenScholar.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2013. "Competition for Attention," Working Paper 76811, Harvard University OpenScholar.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2013. "Competition for Attention," NBER Working Papers 19076, National Bureau of Economic Research, Inc.
- Yiquan Gu & Tobias Wenzel, 2014. "Strategic Obfuscation and Consumer Protection Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 62(4), pages 632-660, December.
- Benjamin Scheibehenne & Rainer Greifeneder & Peter M. Todd, 2010. "Can There Ever Be Too Many Options? A Meta-Analytic Review of Choice Overload," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 37(3), pages 409-425, October.
- Xavier Gabaix & David Laibson, 2018.
"Shrouded attributes, consumer myopia and information suppression in competitive markets,"
Chapters, in: Victor J. Tremblay & Elizabeth Schroeder & Carol Horton Tremblay (ed.), Handbook of Behavioral Industrial Organization, chapter 3, pages 40-74,
Edward Elgar Publishing.
- Xavier Gabaix & David Laibson, 2006. "Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(2), pages 505-540.
- Xavier Gabaix & David Laibson, 2005. "Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets," NBER Working Papers 11755, National Bureau of Economic Research, Inc.
- Laibson, David I. & Gabaix, Xavier, 2006. "Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets," Scholarly Articles 4554333, Harvard University Department of Economics.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2013.
"Salience and Consumer Choice,"
Journal of Political Economy, University of Chicago Press, vol. 121(5), pages 803-843.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, "undated". "Salience and Consumer Choice," Working Paper 62321, Harvard University OpenScholar.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2012. "Salience and Consumer Choice," NBER Working Papers 17947, National Bureau of Economic Research, Inc.
- Bordalo, Pedro & Gennaioli, Nicola & Shleifer, Andrei, 2013. "Salience and Consumer Choice," Scholarly Articles 27814563, Harvard University Department of Economics.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2012. "Salience and Consumer Choice," Working Papers 463, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Pedro Bordado & Nicola Gennaioli & Andrei Shleifer, 2012. "Salience and Consumer Choice," Working Papers 501, Barcelona School of Economics.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2010. "Salience and consumer choice," Economics Working Papers 1252, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2012.
- Neal M. Stoughton & Youchang Wu & Josef Zechner, 2011. "Intermediated Investment Management," Journal of Finance, American Finance Association, vol. 66(3), pages 947-980, June.
- Gabaix, Xavier & Laibson, David & Li, Deyuan & Li, Hongyi & Resnick, Sidney & de Vries, Casper G., 2016.
"The impact of competition on prices with numerous firms,"
Journal of Economic Theory, Elsevier, vol. 165(C), pages 1-24.
- Xavier Gabaix & David Laibson & Deyuan Li & Hongyi Li & Sidney Resnick & Casper G. de Vries, 2013. "The Impact of Competition on Prices with Numerous Firms," Working Papers 13-07, Chapman University, Economic Science Institute.
- Francesco Decarolis, 2015. "Medicare Part D: Are Insurers Gaming the Low Income Subsidy Design?," American Economic Review, American Economic Association, vol. 105(4), pages 1547-1580, April.
- B. Douglas Bernheim, 2009.
"Behavioral Welfare Economics,"
Journal of the European Economic Association, MIT Press, vol. 7(2-3), pages 267-319, 04-05.
- B. Douglas Bernheim, 2008. "Behavioral Welfare Economics," NBER Working Papers 14622, National Bureau of Economic Research, Inc.
- Bart J. Bronnenberg & Jean-Pierre Dubé & Matthew Gentzkow & Jesse M. Shapiro, 2015.
"Do Pharmacists Buy Bayer? Informed Shoppers and the Brand Premium,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 130(4), pages 1669-1726.
- Bart J. Bronnenberg & Jean-Pierre Dubé & Matthew Gentzkow & Jesse M. Shapiro, 2014. "Do Pharmacists Buy Bayer? Informed Shoppers and the Brand Premium," NBER Working Papers 20295, National Bureau of Economic Research, Inc.
- H. A. Eiselt & Gilbert Laporte & Jacques-François Thisse, 1993.
"Competitive Location Models: A Framework and Bibliography,"
Transportation Science, INFORMS, vol. 27(1), pages 44-54, February.
- EISELT, H.A. & LAPORTE, Gilbert & THISSE, Jacques-François, 1993. "Competitive Location Models: A Framework and Bibliography," LIDAM Reprints CORE 1036, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Spiegler, Ran, 2014.
"Bounded Rationality and Industrial Organization,"
OUP Catalogue,
Oxford University Press, number 9780199334261.
- Spiegler, Ran, 2011. "Bounded Rationality and Industrial Organization," OUP Catalogue, Oxford University Press, number 9780195398717.
- Michele Piccione & Ran Spiegler, 2012.
"Price Competition Under Limited Comparability,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 127(1), pages 97-135.
- Piccione, Michele & Spiegler, Ran, 2009. "Price Competition under Limited Comparability," MPRA Paper 21427, University Library of Munich, Germany, revised 16 Oct 2009.
- Michele Piccione & Ran Spiegler, 2010. "Price Competition under Limited Comparability," Levine's Working Paper Archive 661465000000001143, David K. Levine.
- Piccione, Michele & Spiegler, Ran, 2011. "Price Competition under Limited Comparability," Foerder Institute for Economic Research Working Papers 275750, Tel-Aviv University > Foerder Institute for Economic Research.
- Shlomo Benartzi, 2001. "Excessive Extrapolation and the Allocation of 401(k) Accounts to Company Stock," Journal of Finance, American Finance Association, vol. 56(5), pages 1747-1764, October.
- Allen, Beth & Thisse, Jacques-Francois, 1992.
"Price Equilibria in Pure Strategies for Homogeneous Oligopoly,"
Journal of Economics & Management Strategy, Wiley Blackwell, vol. 1(1), pages 63-81, Spring.
- ALLEN, Beth & THISSE, Jacques, 1990. "Price equilibria in pure strategies for homogeneous oligopoly," LIDAM Discussion Papers CORE 1990034, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- ALLEN, Beth & THISSE, Jacques-François, 1992. "Price equilibria in pure strategies for homogeneous oligopoly," LIDAM Reprints CORE 1008, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Carlin, Bruce I., 2009. "Strategic price complexity in retail financial markets," Journal of Financial Economics, Elsevier, vol. 91(3), pages 278-287, March.
- Susan E. Woodward & Robert E. Hall, 2012.
"Diagnosing Consumer Confusion and Sub-optimal Shopping Effort: Theory and Mortgage-Market Evidence,"
American Economic Review, American Economic Association, vol. 102(7), pages 3249-3276, December.
- Susan E. Woodward & Robert E. Hall, 2010. "Diagnosing Consumer Confusion and Sub-Optimal Shopping Effort: Theory and Mortgage-Market Evidence," NBER Working Papers 16007, National Bureau of Economic Research, Inc.
- James J. Choi & David Laibson & Brigitte C. Madrian & Andrew Metrick, 2009.
"Reinforcement Learning and Savings Behavior,"
Journal of Finance, American Finance Association, vol. 64(6), pages 2515-2534, December.
- James Choi & David Laibson & Brigitte Madrian & Andrew Metrick, 2007. "Reinforcement Learning and Savings Behavior," Yale School of Management Working Papers amz2657, Yale School of Management, revised 01 Mar 2009.
- Metrick, Andrew & Laibson, David I. & Choi, James J. & Madrian, Brigitte, 2009. "Reinforcement Learning and Savings Behavior," Scholarly Articles 4686777, Harvard University Department of Economics.
- David Dranove & Daniel Kessler & Mark McClellan & Mark Satterthwaite, 2003.
"Is More Information Better? The Effects of "Report Cards" on Health Care Providers,"
Journal of Political Economy, University of Chicago Press, vol. 111(3), pages 555-588, June.
- David Dranove & Daniel Kessler & Mark McClellan & Mark Satterthwaite, 2002. "Is More Information Better? The Effects of 'Report Cards' on Health Care Providers," NBER Working Papers 8697, National Bureau of Economic Research, Inc.
- Matthew Rabin & Ted O'Donoghue, 1999.
"Doing It Now or Later,"
American Economic Review, American Economic Association, vol. 89(1), pages 103-124, March.
- Ted O'Donoghue & Matthew Rabin, 1996. "Doing It Now or Later," Discussion Papers 1172, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- O'Donoghue, Ted & Rabin, Matthew, 1997. "Doing It Now or Later," Department of Economics, Working Paper Series qt7t44m5b0, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Ted O'Donoghue and Matthew Rabin ., 1997. "Doing It Now or Later," Economics Working Papers 97-253, University of California at Berkeley.
- Bachi, Benjamin & Spiegler, Ran, 2018.
"Buridanic competition,"
Games and Economic Behavior, Elsevier, vol. 107(C), pages 298-315.
- Bachi, Benjamin & Spiegler, Ran, 2014. "Buridanic Competition," Foerder Institute for Economic Research Working Papers 275793, Tel-Aviv University > Foerder Institute for Economic Research.
- Marco A. Haan & José L. Moraga‐González, 2011.
"Advertising for Attention in a Consumer Search Model,"
Economic Journal, Royal Economic Society, vol. 121(552), pages 552-579, May.
- Haan, Marco A. & Moraga-Gonzalez, Jose L., 2009. "Advertising for attention in a consumer search model," IESE Research Papers D/794, IESE Business School.
- Marco A. Haan & Jose Luis Moraga-Gonzalez, 2009. "Advertising for Attention in a Consumer Search Model," Tinbergen Institute Discussion Papers 09-031/1, Tinbergen Institute.
- Varian, Hal R, 1980. "A Model of Sales," American Economic Review, American Economic Association, vol. 70(4), pages 651-659, September.
- Minjung Park, 2011.
"The Economic Impact of Wireless Number Portability,"
Journal of Industrial Economics, Wiley Blackwell, vol. 59(4), pages 714-745, December.
- Minjung Park, 2005. "The Economic Impact of Wireless Number Portability," Discussion Papers 04-017, Stanford Institute for Economic Policy Research.
- Mark Armstrong, 2015.
"Search and Ripoff Externalities,"
Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(3), pages 273-302, November.
- Mark Armstrong, 2014. "Search and Ripoff Externalities," Economics Series Working Papers 715, University of Oxford, Department of Economics.
- Armstrong, Mark, 2015. "Search and ripoff externalities," MPRA Paper 62012, University Library of Munich, Germany.
- Armstrong, Mark, 2014. "Search and Ripoff Externalities," MPRA Paper 57958, University Library of Munich, Germany.
- Michael R. Baye & John Morgan & Patrick Scholten, 2006. "Information, Search, and Price Dispersion," Working Papers 2006-11, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
- Eugenio J. Miravete, 2013. "Competition and the Use of Foggy Pricing," American Economic Journal: Microeconomics, American Economic Association, vol. 5(1), pages 194-216, February.
- Alexia Gaudeul & Robert Sugden, 2012.
"Spurious Complexity and Common Standards in Markets for Consumer Goods,"
Economica, London School of Economics and Political Science, vol. 79(314), pages 209-225, April.
- Alexia Gaudeul & Robert Sugden, 2007. "Spurious Complexity and Common Standards in Markets for Consumer Goods," Working Papers 07-20, Centre for Competition Policy, University of East Anglia.
- Alexia Gaudeul & Robert Sugden, 2009. "Spurious complexity and common standards in markets for consumer goods," Jena Economics Research Papers 2009-084, Friedrich-Schiller-University Jena.
- Gaudeul, Alexia, 2007. "Spurious Complexity and Common Standards in Markets for Consumer Goods," MPRA Paper 19647, University Library of Munich, Germany.
- Alexia Gaudeul & Robert Sugden, 2007. "Spurious Complexity and Common Standards in Markets for Consumer Goods," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2007-20, Centre for Competition Policy, University of East Anglia, Norwich, UK..
- Ali Hortaçsu & Chad Syverson, 2004.
"Product Differentiation, Search Costs, and Competition in the Mutual Fund Industry: A Case Study of S&P 500 Index Funds,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(2), pages 403-456.
- Ali Hortacsu & Chad Syverson, 2003. "Product Differentiation, Search Costs, and Competition in the Mutual Fund Industry: A Case Study of the S&P 500 Index Funds," NBER Working Papers 9728, National Bureau of Economic Research, Inc.
- Ali Hortaçsu & Seyed Ali Madanizadeh & Steven L. Puller, 2017.
"Power to Choose? An Analysis of Consumer Inertia in the Residential Electricity Market,"
American Economic Journal: Economic Policy, American Economic Association, vol. 9(4), pages 192-226, November.
- Ali Hortaçsu & Seyed Ali Madanizadeh & Steven L. Puller, 2015. "Power to Choose? An Analysis of Consumer Inertia in the Residential Electricity Market," NBER Working Papers 20988, National Bureau of Economic Research, Inc.
- Benjamin R. Handel & Jonathan T. Kolstad, 2015. "Health Insurance for "Humans": Information Frictions, Plan Choice, and Consumer Welfare," American Economic Review, American Economic Association, vol. 105(8), pages 2449-2500, August.
- Keith M. Marzilli Ericson, 2014.
"Consumer Inertia and Firm Pricing in the Medicare Part D Prescription Drug Insurance Exchange,"
American Economic Journal: Economic Policy, American Economic Association, vol. 6(1), pages 38-64, February.
- Keith M. Marzilli Ericson, 2012. "Consumer Inertia and Firm Pricing in the Medicare Part D Prescription Drug Insurance Exchange," NBER Working Papers 18359, National Bureau of Economic Research, Inc.
- Diamond, Peter A., 1971. "A model of price adjustment," Journal of Economic Theory, Elsevier, vol. 3(2), pages 156-168, June.
- KalaycI, Kenan & Potters, Jan, 2011. "Buyer confusion and market prices," International Journal of Industrial Organization, Elsevier, vol. 29(1), pages 14-22, January.
- Filip Matêjka & Alisdair McKay, 2015.
"Rational Inattention to Discrete Choices: A New Foundation for the Multinomial Logit Model,"
American Economic Review, American Economic Association, vol. 105(1), pages 272-298, January.
- Filip Matejka & Alisdair McKay, 2011. "Rational Inattention to Discrete Choices: A New Foundation for the Multinomial Logit Model," CERGE-EI Working Papers wp442, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
- Alisdair McKay & Filip Matejka, 2011. "Rational Inattention to Discrete Choices: A New Foundation for the Multinomial Logit Model," 2011 Meeting Papers 535, Society for Economic Dynamics.
- Alisdair McKay & Filip Matejka, 2011. "Rational Inattention to Discrete Choices: A New Foundation for the Multinomial Logit Model," Boston University - Department of Economics - Working Papers Series WP2011-026, Boston University - Department of Economics.
- Crawford, Gregory S. & Tosini, Nicola & Waehrer, Keith, 2011. "The Impact of “Rollover” Contracts on Switching Costs in the UK Voice Market: Evidence from Disaggregate Customer Billing Data," Economic Research Papers 270744, University of Warwick - Department of Economics.
- Wilson, Chris M., 2012. "Market frictions: A unified model of search costs and switching costs," European Economic Review, Elsevier, vol. 56(6), pages 1070-1086.
- Ioana Chioveanu & Jidong Zhou, 2013.
"Price Competition with Consumer Confusion,"
Management Science, INFORMS, vol. 59(11), pages 2450-2469, November.
- Ioanna Chioveanu & Jidong Zhou, 2011. "Price Competition with Consumer Confusion," Working Papers 11-19, New York University, Leonard N. Stern School of Business, Department of Economics.
- V. Brian Viard, 2007.
"Do switching costs make markets more or less competitive? The case of 800-number portability,"
RAND Journal of Economics, RAND Corporation, vol. 38(1), pages 146-163, March.
- Viard, V. Brian, 2005. "Do Switching Costs Make Markets More or Less Competitive? The Case of 800-Number Portability," Research Papers 1773r3, Stanford University, Graduate School of Business.
- Elisabeth Honka, 2014. "Quantifying search and switching costs in the US auto insurance industry," RAND Journal of Economics, RAND Corporation, vol. 45(4), pages 847-884, December.
- Kfir Eliaz & Ran Spiegler, 2011.
"Consideration Sets and Competitive Marketing,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 78(1), pages 235-262.
- Eliaz, Kfir & Spiegler, Ran, 2006. "Consideration Sets and Competitive Marketing," MPRA Paper 21434, University Library of Munich, Germany, revised 03 Sep 2009.
- Spiegler, Ran & Eliaz, Kfir, 2009. "Consideration Sets and Competitive Marketing," CEPR Discussion Papers 7456, C.E.P.R. Discussion Papers.
- B. Douglas Bernheim & Antonio Rangel, 2009.
"Beyond Revealed Preference: Choice-Theoretic Foundations for Behavioral Welfare Economics,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 124(1), pages 51-104.
- Douglas Bernheim & Antonio Rangel, 2007. "Beyond Revealed Preference Choice Theoretic Foundations for Behavioral Welfare Economics," Discussion Papers 07-031, Stanford Institute for Economic Policy Research.
- B. Douglas Bernheim & Antonio Rangel, 2008. "Beyond Revealed Preference: Choice Theoretic Foundations for Behavioral Welfare Economics," NBER Working Papers 13737, National Bureau of Economic Research, Inc.
- Lee, Jinkook & Hogarth, Jeanne M., 2000. "Consumer information search for home mortgages: who, what, how much, and what else?," Financial Services Review, Elsevier, vol. 9(3), pages 277-293, 00.
- Howard Shelanski & Joseph Farrell & Daniel Hanner & Christopher Metcalf & Mary Sullivan & Brett Wendling, 2012. "Economics at the FTC: Drug and PBM Mergers and Drip Pricing," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 41(4), pages 303-319, December.
- ., 2013. "Debating the foundations: a new perspective?," Chapters, in: Rational Econometric Man, chapter 7, pages 189-250, Edward Elgar Publishing.
- Barberis, Nicholas & Thaler, Richard, 2003.
"A survey of behavioral finance,"
Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 18, pages 1053-1128,
Elsevier.
- Nicholas Barberis & Richard Thaler, 2002. "A Survey of Behavioral Finance," NBER Working Papers 9222, National Bureau of Economic Research, Inc.
- Michael D. Grubb & Matthew Osborne, 2015.
"Cellular Service Demand: Biased Beliefs, Learning, and Bill Shock,"
American Economic Review, American Economic Association, vol. 105(1), pages 234-271, January.
- Michael D. Grubb & Matthew Osborne, 2012. "Cellular Service Demand: Biased Beliefs, Learning, and Bill Shock," Boston College Working Papers in Economics 829, Boston College Department of Economics.
- Ran Spiegler, 2006.
"The Market for Quacks,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(4), pages 1113-1131.
- Rani Spiegler, 2005. "The Market for Quacks," Levine's Bibliography 784828000000000634, UCLA Department of Economics.
- Michael Grubb, 2015. "Behavioral Consumers in Industrial Organization: An Overview," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(3), pages 247-258, November.
- Wilson, Chris M, 2009. "Market Frictions: A Unified Model of Search and Switching Costs," MPRA Paper 13672, University Library of Munich, Germany.
- Michael D. Grubb, 2009.
"Selling to Overconfident Consumers,"
American Economic Review, American Economic Association, vol. 99(5), pages 1770-1807, December.
- Michael D. Grubb, 2006. "Selling to Overconfident Consumers," Discussion Papers 06-018, Stanford Institute for Economic Policy Research.
- Michael D. Grubb, 2015. "Behavioral Consumers in Industrial Organization," Boston College Working Papers in Economics 879, Boston College Department of Economics.
- , & ,, 2011.
"On the strategic use of attention grabbers,"
Theoretical Economics, Econometric Society, vol. 6(1), January.
- Spiegler, Ran & Eliaz, Kfir, 2010. "On the Strategic Use of Attention Grabbers," CEPR Discussion Papers 7863, C.E.P.R. Discussion Papers.
- Sendhil Mullainathan & Markus Noeth & Antoinette Schoar, 2012. "The Market for Financial Advice: An Audit Study," NBER Working Papers 17929, National Bureau of Economic Research, Inc.
- Stefano DellaVigna, 2009.
"Psychology and Economics: Evidence from the Field,"
Journal of Economic Literature, American Economic Association, vol. 47(2), pages 315-372, June.
- Stefano DellaVigna, 2007. "Psychology and Economics: Evidence from the Field," NBER Working Papers 13420, National Bureau of Economic Research, Inc.
- repec:bla:jindec:v:50:y:2002:i:4:p:475-92 is not listed on IDEAS
- Wilson, Chris M., 2010.
"Ordered search and equilibrium obfuscation,"
International Journal of Industrial Organization, Elsevier, vol. 28(5), pages 496-506, September.
- Chris M. Wilson, 2008. "Ordered Search and Equilibrium Obfuscation," Economics Series Working Papers 401, University of Oxford, Department of Economics.
- Mengze Shi & Jeongwen Chiang & Byong-Duk Rhee, 2006. "Price Competition with Reduced Consumer Switching Costs: The Case of "Wireless Number Portability" in the Cellular Phone Industry," Management Science, INFORMS, vol. 52(1), pages 27-38, January.
- Michael D. Grubb, 2015.
"Overconfident Consumers in the Marketplace,"
Journal of Economic Perspectives, American Economic Association, vol. 29(4), pages 9-36, Fall.
- Michael D. Grubb, 2015. "Overconfident Consumers in the Marketplace," Boston College Working Papers in Economics 877, Boston College Department of Economics.
- ,, 2006.
"Competition over agents with boundedly rational expectations,"
Theoretical Economics, Econometric Society, vol. 1(2), pages 207-231, June.
- Ran Spiegler, 2005. "Competition over Agents with Boundedly Rational Expectations," Levine's Bibliography 122247000000000535, UCLA Department of Economics.
- Mark Armstrong & Jidong Zhou, 2011.
"Paying for Prominence,"
Economic Journal, Royal Economic Society, vol. 121(556), pages 368-395, November.
- Armstrong, Mark & Zhou, Jidong, 2011. "Paying for prominence," MPRA Paper 30529, University Library of Munich, Germany.
- Michael D. Grubb, 2015.
"Consumer Inattention and Bill-Shock Regulation,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(1), pages 219-257.
- Michael D. Grubb, 2012. "Consumer Inattention and Bill-Shock Regulation," Boston College Working Papers in Economics 828, Boston College Department of Economics.
- K. Sudhir & Nathan Yang, 2014. "Exploiting the Choice-Consumption Mismatch: A New Approach to Disentangle State Dependence and Heterogeneity," Cowles Foundation Discussion Papers 1941, Cowles Foundation for Research in Economics, Yale University.
- Iyengar, Sheena S. & Kamenica, Emir, 2010. "Choice proliferation, simplicity seeking, and asset allocation," Journal of Public Economics, Elsevier, vol. 94(7-8), pages 530-539, August.
- Keith M. Marzilli Ericson, 2014. "On the Interaction of Memory and Procrastination: Implications for Reminders," NBER Working Papers 20381, National Bureau of Economic Research, Inc.
- Shilony, Yuval, 1977. "Mixed pricing in oligopoly," Journal of Economic Theory, Elsevier, vol. 14(2), pages 373-388, April.
- Mark Armstrong & Robert Porter (ed.), 2007. "Handbook of Industrial Organization," Handbook of Industrial Organization, Elsevier, edition 1, volume 3, number 1.
- Jean‐Pierre Dubé & Günter J. Hitsch & Peter E. Rossi, 2010.
"State dependence and alternative explanations for consumer inertia,"
RAND Journal of Economics, RAND Corporation, vol. 41(3), pages 417-445, September.
- Jean-Pierre Dubé & Günter J. Hitsch & Peter E. Rossi, 2009. "State Dependence and Alternative Explanations for Consumer Inertia," NBER Working Papers 14912, National Bureau of Economic Research, Inc.
- Ericson, Keith M. Marzilli, 2020.
"When consumers do not make an active decision: Dynamic default rules and their equilibrium effects,"
Games and Economic Behavior, Elsevier, vol. 124(C), pages 369-385.
- Keith M. Marzilli Ericson, 2014. "When Consumers Do Not Make an Active Decision: Dynamic Default Rules and their Equilibrium Effects," NBER Working Papers 20127, National Bureau of Economic Research, Inc.
- Sims, Christopher A., 2003. "Implications of rational inattention," Journal of Monetary Economics, Elsevier, vol. 50(3), pages 665-690, April.
- Mark Armstrong, 2008.
"Interactions between Competition and Consumer Policy,"
CPI Journal, Competition Policy International, vol. 4.
- Armstrong, Mark, 2008. "Interactions between competition and consumer policy," MPRA Paper 7258, University Library of Munich, Germany.
- Chris M. Wilson & Catherine Waddams Price, 2010.
"Do consumers switch to the best supplier?,"
Oxford Economic Papers, Oxford University Press, vol. 62(4), pages 647-668, October.
- Chris Wilson & Catherine Waddams Price, 2007. "Do Consumers Switch to the Best Supplier?," Working Papers 07-6, Centre for Competition Policy, University of East Anglia.
- Glenn Ellison & Sara Fisher Ellison, 2009.
"Search, Obfuscation, and Price Elasticities on the Internet,"
Econometrica, Econometric Society, vol. 77(2), pages 427-452, March.
- Glenn Ellison & Sara Fisher Ellison, 2004. "Search, Obfuscation, and Price Elasticities on the Internet," NBER Working Papers 10570, National Bureau of Economic Research, Inc.
- Filip Matejka & Alisdair McKay, 2012.
"Simple Market Equilibria with Rationally Inattentive Consumers,"
American Economic Review, American Economic Association, vol. 102(3), pages 24-29, May.
- Alisdair McKay & Filip Matejka, 2011. "Simple Market Equilibria with Rationally Inattentive Consumers," Boston University - Department of Economics - Working Papers Series WP2011-025, Boston University - Department of Economics.
- Barber, Brad M. & Odean, Terrance & Zhu, Ning, 2009. "Systematic noise," Journal of Financial Markets, Elsevier, vol. 12(4), pages 547-569, November.
- B. Douglas Bernheim & Andrey Fradkin & Igor Popov, 2015.
"The Welfare Economics of Default Options in 401(k) Plans,"
American Economic Review, American Economic Association, vol. 105(9), pages 2798-2837, September.
- B. Douglas Bernheim & Andrey Fradkin & Igor Popov, 2011. "The Welfare Economics of Default Options in 401(k) Plans," NBER Working Papers 17587, National Bureau of Economic Research, Inc.
- Victor Stango, 2002. "Pricing with Consumer Switching Costs: Evidence from the Credit Card Market," Journal of Industrial Economics, Wiley Blackwell, vol. 50(4), pages 475-492, December.
- Roman Inderst & Marco Ottaviani, 2012. "Financial Advice," Journal of Economic Literature, American Economic Association, vol. 50(2), pages 494-512, June.
- Keith M. Marzilli Ericson & Andreas Fuster, 2011. "Expectations as Endowments: Evidence on Reference-Dependent Preferences from Exchange and Valuation Experiments," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 126(4), pages 1879-1907.
- Benjamin R. Handel, 2013. "Adverse Selection and Inertia in Health Insurance Markets: When Nudging Hurts," American Economic Review, American Economic Association, vol. 103(7), pages 2643-2682, December.
- Emir Kamenica & Sendhil Mullainathan & Richard Thaler, 2011. "Helping Consumers Know Themselves," American Economic Review, American Economic Association, vol. 101(3), pages 417-422, May.
- Matthew Rabin, 2002. "Inference by Believers in the Law of Small Numbers," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(3), pages 775-816.
- Brigitte C. Madrian & Dennis F. Shea, 2001.
"The Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(4), pages 1149-1187.
- Brigitte C. Madrian & Dennis F. Shea, 2000. "The Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior," NBER Working Papers 7682, National Bureau of Economic Research, Inc.
- G.M. Constantinides & M. Harris & R. M. Stulz (ed.), 2003. "Handbook of the Economics of Finance," Handbook of the Economics of Finance, Elsevier, edition 1, volume 1, number 1.
- Burdett, Kenneth & Judd, Kenneth L, 1983. "Equilibrium Price Dispersion," Econometrica, Econometric Society, vol. 51(4), pages 955-969, July.
- Inderst, Roman & Ottaviani, Marco, 2012. "How (not) to pay for advice: A framework for consumer financial protection," Journal of Financial Economics, Elsevier, vol. 105(2), pages 393-411.
- Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages 251-278, October.
- Benjamin Bachi, 2016. "Competition with price similarities," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(2), pages 277-290, October.
- Botond Koszegi & Adam Szeidl, 2013.
"A Model of Focusing in Economic Choice,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 128(1), pages 53-104.
- Adam Szeidl & Botond Koszegi, 2011. "A Model of Focusing in Economic Choice," 2011 Meeting Papers 1441, Society for Economic Dynamics.
- Matthew Osborne, 2011. "Consumer learning, switching costs, and heterogeneity: A structural examination," Quantitative Marketing and Economics (QME), Springer, vol. 9(1), pages 25-70, March.
- G.M. Constantinides & M. Harris & R. M. Stulz (ed.), 2003. "Handbook of the Economics of Finance," Handbook of the Economics of Finance, Elsevier, edition 1, volume 1, number 2.
- James J. Choi & David Laibson & Brigitte C. Madrian & Andrew Metrick, 2009.
"Reinforcement Learning and Savings Behavior,"
Journal of Finance, American Finance Association, vol. 64(6), pages 2515-2534, December.
- James Choi & David Laibson & Brigitte Madrian & Andrew Metrick, 2007. "Reinforcement Learning and Savings Behavior," Yale School of Management Working Papers amz2657, Yale School of Management, revised 01 Mar 2009.
- Metrick, Andrew & Laibson, David I. & Choi, James J. & Madrian, Brigitte, 2009. "Reinforcement Learning and Savings Behavior," Scholarly Articles 4686777, Harvard University Department of Economics.
- Crawford, Gregory & Tosini, Nicola & Waehrer, Keith, 2011.
"The Impact of 'Rollover' Contracts on Switching Costs in the UK Voice Market: Evidence from Disaggregate Customer Billing Data,"
CEPR Discussion Papers
8693, C.E.P.R. Discussion Papers.
- Crawford, Gregory S. & Tosini, Nicola & Waehrer, Keith, 2012. "The Impact of “Rollover” Contracts on Switching Costs in the UK Voice Market : Evidence from Disaggregate Customer Billing Data," The Warwick Economics Research Paper Series (TWERPS) 980, University of Warwick, Department of Economics.
- Ran Spiegler, 2014.
"Competitive Framing,"
American Economic Journal: Microeconomics, American Economic Association, vol. 6(3), pages 35-58, August.
- Spiegler, Ran, 2013. "Competitive Framing," Foerder Institute for Economic Research Working Papers 275777, Tel-Aviv University > Foerder Institute for Economic Research.
- Ginger Zhe Jin & Phillip Leslie, 2003. "The Effect of Information on Product Quality: Evidence from Restaurant Hygiene Grade Cards," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(2), pages 409-451.
- Glenn Ellison & Alexander Wolitzky, 2012.
"A search cost model of obfuscation,"
RAND Journal of Economics, RAND Corporation, vol. 43(3), pages 417-441, September.
- Glenn Ellison & Alexander Wolitzky, 2009. "A Search Cost Model of Obfuscation," NBER Working Papers 15237, National Bureau of Economic Research, Inc.
- Fabian Duarte & Justine S. Hastings, 2012. "Fettered Consumers and Sophisticated Firms: Evidence from Mexico's Privatized Social Security Market," NBER Working Papers 18582, National Bureau of Economic Research, Inc.
- Justine S. Hastings & Lydia Tejeda-Ashton, 2008. "Financial Literacy, Information, and Demand Elasticity: Survey and Experimental Evidence from Mexico," NBER Working Papers 14538, National Bureau of Economic Research, Inc.
- Matthew Shum, 2004. "Does Advertising Overcome Brand Loyalty? Evidence from the Breakfast‐Cereals Market," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 13(2), pages 241-272, June.
- Stahl, Dale O, II, 1989. "Oligopolistic Pricing with Sequential Consumer Search," American Economic Review, American Economic Association, vol. 79(4), pages 700-712, September.
- Bagwell, Kyle, 2007. "The Economic Analysis of Advertising," Handbook of Industrial Organization, in: Mark Armstrong & Robert Porter (ed.), Handbook of Industrial Organization, edition 1, volume 3, chapter 28, pages 1701-1844, Elsevier.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Xavier Gabaix, 2017.
"Behavioral Inattention,"
NBER Working Papers
24096, National Bureau of Economic Research, Inc.
- Gabaix, Xavier, 2018. "Behavioral Inattention," CEPR Discussion Papers 13268, C.E.P.R. Discussion Papers.
- Michael Grubb, 2015. "Behavioral Consumers in Industrial Organization: An Overview," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(3), pages 247-258, November.
- Byrne, David P. & Martin, Leslie A., 2021. "Consumer search and income inequality," International Journal of Industrial Organization, Elsevier, vol. 79(C).
- Timothy J. Richards & Gordon J. Klein & Celine Bonnet & Zohra Bouamra-Mechemache, 2020.
"Strategic Obfuscation and Retail Pricing,"
Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 57(4), pages 859-889, December.
- Bonnet, Céline & Bouamra-Mechemache, Zohra & Klein, Gordon & Richards, Timothy J., 2016. "Strategic Obfuscation and Retail Pricing," TSE Working Papers 16-733, Toulouse School of Economics (TSE).
- Richards, Timothy J. & Klein, Gordon & Bonnet, Celine & Bouamra-Mechemache, Zohra, 2017. "Strategic Obfuscation and Retail Pricing," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258021, Agricultural and Applied Economics Association.
- Zohra Bouamra & Timothy Richards & Gordon Klein & Céline Bonnet & Zohra Bouamra-Mechemache, 2020. "Strategic Obfuscation and Retail Pricing," Post-Print hal-02902690, HAL.
- Lunn, Pete & Somerville, Jason J., 2015. "Surplus Identification with Non-Linear Returns," Papers WP522, Economic and Social Research Institute (ESRI).
- Wisnicki, Bartlomiej, 2022. "Consumer inertia fosters product quality," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 96(C).
- Wenzel, Tobias, 2024. "Collusion, inattentive consumers and shrouded prices," Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 579-591.
- Mark Armstrong, 2015.
"Search and Ripoff Externalities,"
Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(3), pages 273-302, November.
- Mark Armstrong, 2014. "Search and Ripoff Externalities," Economics Series Working Papers 715, University of Oxford, Department of Economics.
- Armstrong, Mark, 2015. "Search and ripoff externalities," MPRA Paper 62012, University Library of Munich, Germany.
- Armstrong, Mark, 2014. "Search and Ripoff Externalities," MPRA Paper 57958, University Library of Munich, Germany.
- Yiquan Gu & Tobias Wenzel, 2017.
"Consumer confusion, obfuscation and price regulation,"
Scottish Journal of Political Economy, Scottish Economic Society, vol. 64(2), pages 169-190, May.
- Gu, Yiquan & Wenzel, Tobias, 2015. "Consumer confusion, obfuscation, and price regulation," RIEI Working Papers 2015-04, Xi'an Jiaotong-Liverpool University, Research Institute for Economic Integration.
- Gu, Yiquan & Wenzel, Tobias, 2020. "Curbing obfuscation: Empower consumers or regulate firms?," International Journal of Industrial Organization, Elsevier, vol. 70(C).
- Ioana Chioveanu & Jidong Zhou, 2013.
"Price Competition with Consumer Confusion,"
Management Science, INFORMS, vol. 59(11), pages 2450-2469, November.
- Ioanna Chioveanu & Jidong Zhou, 2011. "Price Competition with Consumer Confusion," Working Papers 11-19, New York University, Leonard N. Stern School of Business, Department of Economics.
- Michael D. Grubb, 2015. "Behavioral Consumers in Industrial Organization," Boston College Working Papers in Economics 879, Boston College Department of Economics.
- Bruce I. Carlin & Florian Ederer, 2019.
"Search Fatigue,"
Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 54(3), pages 485-508, May.
- Bruce Ian Carlin & Florian Ederer, 2012. "Search Fatigue," NBER Working Papers 17895, National Bureau of Economic Research, Inc.
- Ernst Fehr & Keyu Wu, 2021. "Obfuscation in competitive markets," ECON - Working Papers 391, Department of Economics - University of Zurich, revised Feb 2023.
- Janssen, Aljoscha & Kasinger, Johannes, 2021. "Obfuscation and rational inattention in digitalized markets," SAFE Working Paper Series 306, Leibniz Institute for Financial Research SAFE.
- Janssen, Aljoscha & Kasinger, Johannes, 2021. "Obfuscation and Rational Inattention in Digitalized Markets," Working Paper Series 1379, Research Institute of Industrial Economics.
- Yiquan Gu & Tobias Wenzel, 2014. "Strategic Obfuscation and Consumer Protection Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 62(4), pages 632-660, December.
- Chioveanu, Ioana, 2019.
"Prominence, complexity, and pricing,"
International Journal of Industrial Organization, Elsevier, vol. 63(C), pages 551-582.
- Chioveanu, Ioana, 2017. "Prominence, Complexity, and Pricing," MPRA Paper 81078, University Library of Munich, Germany.
- Nicolas de Roos & Vladimir Smirnov, 2020.
"Collusion with intertemporal price dispersion,"
RAND Journal of Economics, RAND Corporation, vol. 51(1), pages 158-188, March.
- de Roos, Nicholas & Smirnov, Vladimir, 2019. "Collusion with intertemporal price dispersion," Working Papers 2019-01, University of Sydney, School of Economics.
- Hämäläinen, Saara, 2022. "Multiproduct search obfuscation," International Journal of Industrial Organization, Elsevier, vol. 85(C).
More about this item
Keywords
behavioral industrial organization; bounded rationality; search; obfuscation; switching; inertia;All these keywords.
JEL classification:
- D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
NEP fields
This paper has been announced in the following NEP Reports:- NEP-COM-2015-06-13 (Industrial Competition)
- NEP-IND-2015-06-13 (Industrial Organization)
- NEP-MKT-2015-06-13 (Marketing)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:boc:bocoec:878. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christopher F Baum (email available below). General contact details of provider: https://edirc.repec.org/data/debocus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.