| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29618 |
| 来源ID | Working Paper 29618 |
| Vertical Differentiation in Frictional Product Markets | |
| James Albrecht; Guido Menzio; Susan Vroman | |
| 发表日期 | 2022-01-03 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We consider a version of the imperfect competition model of Butters (1977), Varian (1980) and Burdett and Judd (1983) in which sellers make an ex-ante investment in the quality of their variety of the product. Equilibrium exists, is unique and is efficient. In equilibrium, search frictions not only cause sellers to offer different surpluses to buyers but also cause sellers to choose different qualities for their varieties. That is, equilibrium involves endogenous vertical differentiation. As search frictions decline, the market becomes more and more unequal as a smaller and smaller fraction of sellers produces varieties of increasing quality, offers increasing surplus to their customers, and captures an increasing share of the market, while a growing fraction of sellers produces varieties of decreasing quality. Gains from trade and welfare grow. Under some conditions, the growth rate of gains from trade and welfare is constant. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Economics of Information ; Industrial Organization ; Market Structure and Firm Performance ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w29618 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587291 |
| 推荐引用方式 GB/T 7714 | James Albrecht,Guido Menzio,Susan Vroman. Vertical Differentiation in Frictional Product Markets. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29618.pdf（239KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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