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Equilibrium Price Dispersion Across and Within Stores / Guido Menzio, Nicholas Trachter.
- Format:
- Book
- Author/Creator:
- Menzio, Guido.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w21493.
- NBER working paper series no. w21493
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2015.
- Summary:
- We develop a search-theoretic model of the product market that generates price dispersion across and within stores. Buyers differ with respect to their ability to shop around, both at different stores and at different times. The fact that some buyers can shop from only one seller while others can shop from multiple sellers causes price dispersion across stores. The fact that the buyers who can shop from multiple sellers are more likely to be able to shop at inconvenient times (e.g., on Monday morning) causes price dispersion within stores. Specifically, it causes sellers to post different prices for the same good at different times in order to discriminate between different types of buyers.
- Notes:
- Print version record
- August 2015.
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