| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14036 |
| DP14036 Information Acquisition and Diffusion in Markets | |
| Maarten Janssen; Atabek Atayev | |
| 发表日期 | 2019-10-06 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Consumers can acquire information through their own search efforts or through their social network. Information diffusion via word-of-mouth communication leads to some consumers free-riding on their "friends" and less information acquisition via active search. Free-riding also has an important positive effect, however, in that consumers that do not actively search themselves are more likely to be able to compare prices before purchase, imposing competitive pressure on firms. We show how market prices depend on the characteristics of the network and on search cost. For example, if the search cost becomes small, price dispersion disappears, while the price level converges to the monopoly level, implying that expected prices are decreasing for small enough search cost. More connected societies have lower market prices, while price dispersion remains even in fully connected societies. |
| 主题 | Industrial Organization |
| 关键词 | Consumer search Word-of-mouth communication Social Networks |
| URL | https://cepr.org/publications/dp14036 |
| 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/542924 |
| 推荐引用方式 GB/T 7714 | Maarten Janssen,Atabek Atayev. DP14036 Information Acquisition and Diffusion in Markets. 2019. |
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