| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP13940
|
| DP13940 Rational Buyers Search When Prices Increase |
| Luis Cabral; Sonia Gilbukh
|
| 发表日期 | 2019-08-19
|
| 出版年 | 2019
|
| 语种 | 英语
|
| 摘要 | We develop a dynamic pricing model motivated by observed patterns in business-to-business (and some business-to-customer) transactions. Seller costs are perfectly correlated and evolve according to a Markov process. In every period, each buyer observes (for free) the price set by their current supplier, but not the other sellers' prices or the sellers' (common) cost level. By paying a cost s the buyer becomes "active" and benefits from (Bertrand) competition among sellers.
We show that there exists a semi-separating equilibrium whereby sellers increase price immediately when costs increase and otherwise decrease price gradually. Moreover, buyers become active when prices increase but not otherwise. In sum, we deliver a theory whereby buyers become active ("search") if and only if their supplier increases price. |
| 主题 | Industrial Organization
|
| URL | https://cepr.org/publications/dp13940
|
| 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/542822
|
推荐引用方式
GB/T 7714 |
Luis Cabral,Sonia Gilbukh. DP13940 Rational Buyers Search When Prices Increase. 2019.
|
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