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Transparency, Prices and Welfare with Imperfect Substitutes

Author

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  • Boone, Jan
  • Potters, Jan

Abstract

Markets that are not completely transparent feature complex comparative statics with respect to the effect of number of firms, elasticity of substitution between goods and degree of transparency on equilibrium prices. The main result is that the following 'common wisdom' is incorrect: more transparent markets always feature lower prices, higher consumer welfare and lower price dispersion.

Suggested Citation

  • Boone, Jan & Potters, Jan, 2002. "Transparency, Prices and Welfare with Imperfect Substitutes," CEPR Discussion Papers 3256, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:3256
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    Cited by:

    1. Schultz, Christian, 2004. "Market transparency and product differentiation," Economics Letters, Elsevier, vol. 83(2), pages 173-178, May.
    2. KNAUFF, Malgorzata, 2006. "Market transparency and Bertrand competition," LIDAM Discussion Papers CORE 2006037, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    3. Elisa Baraibar‐Diez & María D. Odriozola & José Luis Fernández Sánchez, 2017. "A Survey of Transparency: An Intrinsic Aspect of Business Strategy," Business Strategy and the Environment, Wiley Blackwell, vol. 26(4), pages 480-489, May.

    More about this item

    Keywords

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    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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