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Price Dispersion in the Lab and on the Internet: Theory and Evidence

Citations

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Cited by:

  1. Renou, Ludovic & Schlag, Karl H., 2010. "Minimax regret and strategic uncertainty," Journal of Economic Theory, Elsevier, vol. 145(1), pages 264-286, January.
  2. Bayer, Ralph-C & Ke, Changxia, 2018. "What causes rockets and feathers? An experimental investigation," Journal of Economic Behavior & Organization, Elsevier, vol. 153(C), pages 223-237.
  3. Martin, Simon & Schlag, Karl H., 2020. "Split it up to create incentives: Investment, public goods and crossing the river," Journal of Economic Theory, Elsevier, vol. 189(C).
  4. Ralph-C. Bayer & Hang Wu & Mickey Chan, 2014. "Special Section: Experiments on Learning, Methods, and Voting," Pacific Economic Review, Wiley Blackwell, vol. 19(3), pages 278-295, August.
  5. Penalver, Adrian & Hanaki, Nobuyuki & Akiyama, Eizo & Funaki, Yukihiko & Ishikawa, Ryuichiro, 2020. "A quantitative easing experiment," Journal of Economic Dynamics and Control, Elsevier, vol. 119(C).
  6. Maria Arbatskaya, 2007. "Ordered search," RAND Journal of Economics, RAND Corporation, vol. 38(1), pages 119-126, March.
  7. John Morgan & Felix Várdy, 2013. "The Fragility of Commitment," Management Science, INFORMS, vol. 59(6), pages 1344-1353, June.
  8. Helland, Leif & Moen, Espen R. & Preugschat, Edgar, 2017. "Information and coordination frictions in experimental posted offer markets," Journal of Economic Theory, Elsevier, vol. 167(C), pages 53-74.
  9. Bogumił Kamiński & Maciej Łatek, 2016. "On asymmetric Bertrand duopoly with price uncertainty," International Journal of Economic Theory, The International Society for Economic Theory, vol. 12(4), pages 303-316, December.
  10. García Díaz, Antón & Hernán González, Roberto & Kujal, Praveen, 2009. "List pricing and discounting in a Bertrand-Edgeworth duopoly," International Journal of Industrial Organization, Elsevier, vol. 27(6), pages 719-727, November.
  11. Ya-Ling Chiu & Jiangze Du & Jying-Nan Wang, 2022. "The Effects of Price Dispersion on Sales in the Automobile Industry: A Dynamic Panel Analysis," SAGE Open, , vol. 12(3), pages 21582440221, August.
  12. Kazakova, E. & Sandomirskaia, M. & Suvorov, A. & Khazhgerieva, A. & Shavshin, R., 2023. "Platforms, online labor markets, and crowdsourcing. Part 1. Traditional online labor market," Journal of the New Economic Association, New Economic Association, vol. 60(3), pages 120-148.
  13. Ratchford, Brian & Soysal, Gonca & Zentner, Alejandro & Gauri, Dinesh K., 2022. "Online and offline retailing: What we know and directions for future research," Journal of Retailing, Elsevier, vol. 98(1), pages 152-177.
  14. Collins, Sean M. & James, Duncan & Servátka, Maroš & Vadovič, Radovan, 2020. "Attainment of Equilibrium: Marshallian Path Adjustment and Buyer Determinism," MPRA Paper 104103, University Library of Munich, Germany.
  15. Ching-jen Sun, 2017. "Dynamic price dispersion in Bertrand–Edgeworth competition," International Journal of Game Theory, Springer;Game Theory Society, vol. 46(1), pages 235-261, March.
  16. Armstrong, Mark & Huck, Steffen, 2010. "Behavioral economics as applied to firms: a primer," MPRA Paper 20356, University Library of Munich, Germany.
  17. Niloofar Fadavi, 2022. "Subgame perfect Nash equilibrium for dynamic pricing competition with finite planning horizon," Papers 2208.02842, arXiv.org.
  18. Kováč, Eugen & Schmidt, Robert C., 2014. "Market share dynamics in a duopoly model with word-of-mouth communication," Games and Economic Behavior, Elsevier, vol. 83(C), pages 178-206.
  19. Collins, Sean M. & James, Duncan & Servátka, Maroš & Vadovič, Radovan, 2021. "Attainment of equilibrium via Marshallian path adjustment: Queueing and buyer determinism," Games and Economic Behavior, Elsevier, vol. 125(C), pages 94-106.
  20. Heiko Karle & Martin Peitz & Markus Reisinger, 2020. "Segmentation versus Agglomeration: Competition between Platforms with Competitive Sellers," Journal of Political Economy, University of Chicago Press, vol. 128(6), pages 2329-2374.
  21. Enrique Fatas & Ernan Haruvy & Antonio J. Morales, 2014. "A Psychological Reexamination of the Bertrand Paradox," Southern Economic Journal, John Wiley & Sons, vol. 80(4), pages 948-967, April.
  22. Braido, Luis H.B., 2009. "Multiproduct price competition with heterogeneous consumers and nonconvex costs," Journal of Mathematical Economics, Elsevier, vol. 45(9-10), pages 526-534, September.
  23. Ralph-C Bayer & Changxia Ke, 2011. "Are "Rockets and Feathers" Caused by Search or Informational Frictions," Working Papers are_rockets_and_feathers_, Max Planck Institute for Tax Law and Public Finance.
  24. Nobuyuki Hanaki & Yutaka Kayaba & Jun Maekawa & Hitoshi Matsushima, 2021. "Trading Information Goods on a Network: An Experiment," ISER Discussion Paper 1151, Institute of Social and Economic Research, The University of Osaka.
  25. Zhuang, Hejun & Popkowski Leszczyc, Peter T.L. & Lin, Yuanfang, 2018. "Why is Price Dispersion Higher Online than Offline? The Impact of Retailer Type and Shopping Risk on Price Dispersion," Journal of Retailing, Elsevier, vol. 94(2), pages 136-153.
  26. Levent Kutlu, 2015. "Limited Memory Consumers and Price Dispersion," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 46(4), pages 349-357, June.
  27. Uri Gneezy, 2005. "Step-Level Reasoning and Bidding in Auctions," Management Science, INFORMS, vol. 51(11), pages 1633-1642, November.
  28. Tülin Erdem & Kannan Srinivasan & Wilfred Amaldoss & Patrick Bajari & Hai Che & Teck Ho & Wes Hutchinson & Michael Katz & Michael Keane & Robert Meyer & Peter Reiss, 2005. "Theory-Driven Choice Models," Marketing Letters, Springer, vol. 16(3), pages 225-237, December.
  29. Wilfred Amaldoss & Teck-Hua Ho & Aradhna Krishna & Kay-Yut Chen & Preyas Desai & Ganesh Iyer & Sanjay Jain & Noah Lim & John Morgan & Ryan Oprea & Joydeep Srivasatava, 2008. "Experiments on strategic choices and markets," Marketing Letters, Springer, vol. 19(3), pages 417-429, December.
  30. Hasan, Syed Akif & Subhani, Muhammad Imtiaz & Osman, Ms. Amber & Mehar, Ayub, 2012. "Pricing behavior of firms when consumers have an Imperfect Recall," MPRA Paper 35682, University Library of Munich, Germany.
  31. Régis Breton & Bertrand Gobillard, 2005. "Robustness of equilibrium price dispersion in finite market games," Post-Print halshs-00257207, HAL.
  32. Teck H. Ho & Noah Lim & Colin Camerer, 2005. "Modeling the Psychology of Consumer and Firm Behavior with Behavioral Economics," Levine's Bibliography 784828000000000476, UCLA Department of Economics.
  33. Subhasish Dugar & Arnab Mitra, 2016. "Bertrand Competition With Asymmetric Marginal Costs," Economic Inquiry, Western Economic Association International, vol. 54(3), pages 1631-1647, July.
  34. Ramnath K. Chellappa & Raymond G. Sin & S. Siddarth, 2011. "Price Formats as a Source of Price Dispersion: A Study of Online and Offline Prices in the Domestic U.S. Airline Markets," Information Systems Research, INFORMS, vol. 22(1), pages 83-98, March.
  35. Carvalho, M., 2009. "Price Recall, Bertrand Paradox and Price Dispersion With Elastic Demand," Other publications TiSEM c00b849b-641f-43ed-a493-3, Tilburg University, School of Economics and Management.
  36. Evan Friedman & Duarte Gonc{c}alves, 2023. "Quantal Response Equilibrium with a Continuum of Types: Characterization and Nonparametric Identification," Papers 2307.08011, arXiv.org, revised Mar 2024.
  37. Cason, Timothy N. & Friedman, Daniel & Wagener, Florian, 2005. "The dynamics of price dispersion, or Edgeworth variations," Journal of Economic Dynamics and Control, Elsevier, vol. 29(4), pages 801-822, April.
  38. Sun, Ching-jen, 2005. "Dynamic Price Dispersion in a Bertrand-Edgeworth Model," MPRA Paper 9854, University Library of Munich, Germany, revised Dec 2007.
  39. Michael R. Baye & J. Rupert J. Gatti & Paul Kattuman & John Morgan, 2006. "Did the Euro Foster Online Price Competition? Evidence from an International Price Comparison Site," Economic Inquiry, Western Economic Association International, vol. 44(2), pages 265-279, April.
  40. Michael R. Baye & John Morgan, 2005. "Probabilistic Patents," Microeconomics 0504004, University Library of Munich, Germany.
  41. Kaminski, Bogumil & Latek, Maciej, 2012. "A Simple Model of Bertrand Duopoly with Noisy Prices," MPRA Paper 41333, University Library of Munich, Germany.
  42. Michael R. Baye & John Morgan, 2009. "Brand and Price Advertising in Online Markets," Management Science, INFORMS, vol. 55(7), pages 1139-1151, July.
  43. Alan Gelder & Dan Kovenock & Roman Sheremeta, 2015. "Behavior in All-Pay Auctions with Ties," Working Papers 15-22, Chapman University, Economic Science Institute.
  44. Anirban Sengupta & Steven Wiggins, 2006. "Airline Pricing, Price Dispersion and Ticket Characteristics On and Off the Internet," Working Papers 06-07, NET Institute, revised Oct 2006.
  45. Noah Lim & Teck-Hua Ho, 2007. "Designing Price Contracts for Boundedly Rational Customers: Does the Number of Blocks Matter?," Marketing Science, INFORMS, vol. 26(3), pages 312-326, 05-06.
  46. Yuriy Gorodnichenko & Oleksandr Talavera, 2017. "Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration," American Economic Review, American Economic Association, vol. 107(1), pages 249-282, January.
  47. Glenn Ellison & Sara Fisher Ellison, 2005. "Lessons About Markets from the Internet," Journal of Economic Perspectives, American Economic Association, vol. 19(2), pages 139-158, Spring.
  48. Carvalho, M., 2011. "Essays in behavioral microeconomic theory," Other publications TiSEM 97fbb10e-5f12-420b-b8c4-e, Tilburg University, School of Economics and Management.
  49. Andersson, Ola & Argenton, Cédric & Weibull, Jörgen W., 2014. "Robustness to strategic uncertainty," Games and Economic Behavior, Elsevier, vol. 85(C), pages 272-288.
  50. Duan, Jieyi & Hanaki, Nobuyuki, 2023. "The impact of asset purchases in an experimental market with consumption smoothing motives," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
  51. Blavatskyy, Pavlo, 2018. "Oligopolistic price competition with a continuous demand," Mathematical Social Sciences, Elsevier, vol. 93(C), pages 123-131.
  52. Chen, Yongmin & Zhang, Tianle, 2011. "Equilibrium price dispersion with heterogeneous searchers," International Journal of Industrial Organization, Elsevier, vol. 29(6), pages 645-654.
  53. Anirban Sengupta, 2007. "Do Internet Converge Prices to the "Law of One Price"? Evidence from Transaction Data for Airline Tickets," Working Papers 07-26, NET Institute, revised Sep 2007.
  54. Glenn Ellison & Sara Fisher Ellison, 2006. "Internet Retail Demand: Taxes, Geography, and Online-Offline Competition," NBER Working Papers 12242, National Bureau of Economic Research, Inc.
  55. Ralph‐C Bayer & Chaohua Dong & Hang Wu, 2019. "The impact of the number of sellers on quantal response equilibrium predictions in Bertrand oligopolies," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 28(4), pages 787-793, November.
  56. Ratul, Lahkar, 2011. "The dynamic instability of dispersed price equilibria," Journal of Economic Theory, Elsevier, vol. 146(5), pages 1796-1827, September.
  57. Levy, David M. & Makowsky, Michael D., 2010. "Price dispersion and increasing returns to scale," Journal of Economic Behavior & Organization, Elsevier, vol. 73(3), pages 406-417, March.
  58. Carvalho, M., 2009. "Price Recall, Bertrand Paradox and Price Dispersion With Elastic Demand," Discussion Paper 2009-69, Tilburg University, Center for Economic Research.
  59. Sean Duffy & Tyson Hartwig & John Smith, 2014. "Costly and discrete communication: an experimental investigation," Theory and Decision, Springer, vol. 76(3), pages 395-417, March.
  60. Bing Jing & Zhong Wen, 2008. "Finitely Loyal Customers, Switchers, and Equilibrium Price Promotion," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 17(3), pages 683-707, September.
  61. Nikolai Roussanov & Hongxun Ruan & Yanhao Wei & Stijn Van Nieuwerburgh, 2021. "Marketing Mutual Funds," The Review of Financial Studies, Society for Financial Studies, vol. 34(6), pages 3045-3094.
  62. Jan Potters & Sigrid Suetens, 2013. "Oligopoly Experiments In The Current Millennium," Journal of Economic Surveys, Wiley Blackwell, vol. 27(3), pages 439-460, July.
  63. Bayer, Ralph-C., 2010. "Intertemporal price discrimination and competition," Journal of Economic Behavior & Organization, Elsevier, vol. 73(2), pages 273-293, February.
  64. Niloofar Fadavi, 2024. "Dynamic Price Dispersion of Seasonal Goods in Bertrand-Edgeworth Competition," Applied Economics and Finance, Redfame publishing, vol. 11(2), pages 14-33, December.
  65. Topolyan, Iryna, 2017. "Price competition when three are few and four are many," International Journal of Industrial Organization, Elsevier, vol. 54(C), pages 175-191.
  66. Jifeng Luo & Han Zhang & Haizheng Li, 2018. "Pricing strategies in online book industry: a comparative study," Information Systems and e-Business Management, Springer, vol. 16(4), pages 791-816, November.
  67. 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.
  68. Mounir, Angie & Perea, Andrés & Tsakas, Elias, 2018. "Common belief in approximate rationality," Mathematical Social Sciences, Elsevier, vol. 91(C), pages 6-16.
  69. Zhe Yang & Yong Pu, 2012. "Existence and stability of minimax regret equilibria," Journal of Global Optimization, Springer, vol. 54(1), pages 17-26, September.
  70. Martin, Simon & Schlag, Karl, 2017. "Finite Horizon Holdup and How to Cross the River," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168136, Verein für Socialpolitik / German Economic Association.
  71. Jiandong Ju & Scott C. Linn & Zhen Zhu, 2010. "Middlemen and Oligopolistic Market Makers," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 19(1), pages 1-23, March.
  72. Sha Luo, 2009. "Price Dispersion in the Online Auction Markets," EERI Research Paper Series EERI_RP_2009_07, Economics and Econometrics Research Institute (EERI), Brussels.
  73. García-Gallego, Aurora & Georgantzís, Nikolaos & Jaramillo-Gutiérrez, Ainhoa & Pereira, Pedro & Pernías-Cerrillo, J. Carlos, 2014. "On the evolution of monopoly pricing in Internet-assisted search markets," Journal of Business Research, Elsevier, vol. 67(5), pages 795-801.
  74. Martin, Simon & Schlag, Karl, 2017. "Finite Horizon Holdup and How to Cross the River," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168136, Verein für Socialpolitik / German Economic Association.
  75. Michael Rauh, 2005. "Complementarity, Search, and Price Dispersion," Game Theory and Information 0508008, University Library of Munich, Germany.
  76. Diego Escobari & Li Gan, 2007. "Price Dispersion under Costly Capacity and Demand Uncertainty," NBER Working Papers 13075, National Bureau of Economic Research, Inc.
  77. Richard Dutu & Benoit Julien & Ian King, 2012. "On the Welfare Gains of Price Dispersion," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(5), pages 757-786, August.
  78. Hanaki, Nobuyuki & Kayaba, Yutaka & Maekawa, Jun & Matsushima, Hitoshi, 2024. "Two experiments on trading information goods in a network," Games and Economic Behavior, Elsevier, vol. 145(C), pages 1-18.
  79. Nikolai Bazenkov & Elena Glamozdina & Maria Kuznetsova & Marina Sandomirskaia, 2019. "Price Dispersion In Internet Sales: Data From An Online Marketplace Contradict Lab Experiments," HSE Working papers WP BRP 219/EC/2019, National Research University Higher School of Economics.
  80. Ralph-C Bayer & Changxia Ke, 2010. "Rockets and Feathers in the Laboratory," Adelaide Economics Working Papers 2010-20, Adelaide University, School of Economics.
  81. Glenn Ellison & Sara Fisher Ellison, 2009. "Tax Sensitivity and Home State Preferences in Internet Purchasing," American Economic Journal: Economic Policy, American Economic Association, vol. 1(2), pages 53-71, August.
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