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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214, Massachusetts Institute of Technology (MIT), Department of Economics.
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- Zhou, Jidong, 2009. "Prominence and Consumer Search: The Case With Multiple Prominent Firms," MPRA Paper 12554, University Library of Munich, Germany.
- Perry, Motty & Wigderson, Avi, 1986. "Search in a Known Pattern," Journal of Political Economy, University of Chicago Press, vol. 94(1), pages 225-30, February.
- Asher Wolinsky, 1986. "True Monopolistic Competition as a Result of Imperfect Information," The Quarterly Journal of Economics, Oxford University Press, vol. 101(3), pages 493-511.
- Yongmin Chen & Chuan He, 2011.
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Royal Economic Society, vol. 121(556), pages F309-F328, November.
- Yongmin Chen & Chuan He, 2006. "Paid Placement: Advertising and Search on the Internet," Working Papers 06-02, NET Institute, revised Sep 2006.
- repec:oup:qjecon:v:126:y:2011:i:3:p:1213-1270 is not listed on IDEAS
- Susan Athey & Glenn Ellison, 2009.
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15253, National Bureau of Economic Research, Inc.
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