Ordered Search in Differentiated Markets
This note presents an ordered search model in which consumers search both for price and product fitness. We construct an equilibrium in which there is price dispersion and prices rise in the order of search. The top firms in consumer search process, though charge lower prices, earn higher profits due to their larger market shares.
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"Pricing, product diversity, and search costs: a Bertrand-Chamberlin-Diamond model,"
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335, University of Virginia, Department of Economics.
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