| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP704
|
| DP704 Competition When Consumers Have Switching Costs: An Overview |
| Paul Klemperer
|
| 发表日期 | 1992-07-19
|
| 出版年 | 1992
|
| 语种 | 英语
|
| 摘要 | This paper surveys recent work on competition in markets in which consumers face costs to switching between competing firms' products, even when all firms' products are functionally identical. I address issues in macroeconomics, international trade and industrial organization: In a market with switching costs (or `brand loyalty'), a firm's current market share is an important determinant of its future profitability. I examine how the firm's choice between setting a low price to capture market share, and setting a high price to harvest profits by exploiting its current locked-in customers, is affected by the threat of new entry, interest rates, exchange rate expectations, the state of the business cycle, etc. I also discuss the causes of switching costs, explain introductory offers and price wars, and examine industry profits, firms' product choices, and implications for multi-product competition. |
| 关键词 | Brand loyalty
Lock-in
Switching costs
|
| URL | https://cepr.org/publications/dp704
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529841
|
推荐引用方式
GB/T 7714 |
Paul Klemperer. DP704 Competition When Consumers Have Switching Costs: An Overview. 1992.
|
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