Finitely repeated search and the diamond paradox
Autor: | Arthur Fishman |
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Rok vydání: | 2021 |
Předmět: |
TheoryofComputation_MISCELLANEOUS
Economics and Econometrics 05 social sciences TheoryofComputation_GENERAL Diamond engineering.material Search game Monopoly price Homogeneous 0502 economics and business Economics Search cost engineering 050207 economics Hardware_REGISTER-TRANSFER-LEVELIMPLEMENTATION Mathematical economics Finance 050205 econometrics Linear search |
Zdroj: | Economics Letters. 205:109933 |
ISSN: | 0165-1765 |
DOI: | 10.1016/j.econlet.2021.109933 |
Popis: | The Diamond paradox (Diamond, 1971) asserts that in a market for a homogeneous good, if all consumers have positive search costs and search sequentially, then the unique equilibrium price is the monopoly price. I show that any finitely repeated version of this search game may support competitive prices. |
Databáze: | OpenAIRE |
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