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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- Mark Armstrong & John Vickers & Jidong Zhou, 2009.
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- repec:dgr:uvatin:20090031 is not listed on IDEAS
- Zhou, Jidong, 2009. "Prominence and Consumer Search: The Case With Multiple Prominent Firms," MPRA Paper 12554, University Library of Munich, Germany.
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