通过价格与信息吸引
Attraction Via Prices and Information
AI总结:
本文研究了寡头垄断搜寻市场中信息提供承诺能力的影响,发现承诺能力可带来价格分散和主动搜寻的唯一对称均衡,且企业总是偏好该情形,而消费者在稀薄市场中更偏好无承诺下的激烈价格竞争。
摘要:
我们研究了在存在搜寻摩擦的寡头垄断市场中,信息提供的承诺能力增强所带来的影响。尽管价格是公开标示的,从而能引导搜寻,但如果企业无法对信息提供政策做出承诺,均衡时不存在主动搜寻,消费者最多只会访问(并购买)一家企业的产品。如果企业能同时通过价格和信息政策引导搜寻,则存在一个唯一的对称均衡,表现出价格分散和主动搜寻。然而,当市场稀薄时,消费者更偏好前者,因为前者具有激烈的价格竞争。企业总是偏好后者。
英文摘要:
We study the ramifications of increased commitment power for information provision in an oligopolistic market with search frictions. Although prices are posted and, therefore, guide search, if firms cannot commit to information provision policies, there is no active search at equilibrium so consumers visit (and purchase from) at most one firm. If firms can guide search by both their prices and information policies, there exists a unique symmetric equilibrium exhibiting price dispersion and active search. Nevertheless, when the market is thin, consumers prefer the former case, which features intense price competition. Firms always prefer the latter.
机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。