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Abstract Anderson and Renault (1999) show a U-shaped relationship between firms’ equilibrium prices and product differentiation. Through a simultaneous search model with partial depth, we show that such a U-shaped… Click to show full abstract
Abstract Anderson and Renault (1999) show a U-shaped relationship between firms’ equilibrium prices and product differentiation. Through a simultaneous search model with partial depth, we show that such a U-shaped relationship emerges (vanishes) when search depth is fixed (chosen by consumers).
Keywords:
product differentiation;
equilibrium price;
product;
differentiation equilibrium;
search
Journal Title: Economics Letters
Year Published: 2021
Link to full text (if available)
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Journal Title: Economics Letters
Year Published: 2021
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!