Equilibrium price dispersion with heterogeneous searchers

Chen, Yongmin; Zhang, Tianle

doi:10.1016/j.ijindorg.2011.03.007

Cited by 38 publications

(38 citation statements)

References 20 publications

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“…As in Eliaz and Spiegler (2011), suppose all …rms whose is above some threshold t ( t) will pay r to be listed on the search platform, E; and charge price p : 13 Consider a consumer's search strategy on E: Because all …rms charge p , consumers face a stationary problem, and searches optimally with reservation value u : Denote the expected match quality of sellers on E by…”

Section: Independent Values Of Matched Sellersmentioning

confidence: 99%

Intermediaries and consumer search

Chen

Zhang²

2018

International Journal of Industrial Organization

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Abstract. This paper discusses how intermediaries, such as a search engine and an online marketplace, may a¤ect consumer search. We propose an analytical framework that encompasses several models of search for di¤erentiated products, with a high-quality …rm being more likely to o¤er a product that meets each consumer's need. An intermediary improves consumer search e¢ ciency by providing a search platform on which positions are sold to high-quality …rms through competitive bidding. While the intermediary may admit too many or too few …rms to its platform, compared to what would maximize consumer surplus or total welfare, its presence can nevertheless bene…t consumers and improve welfare. However, the intermediary may reduce search e¢ ciency when …rms are di¤erentiated only horizontally, when they sell experience or credence goods, or when the intermediary is biased (possibly due to vertical integration).Keywords: consumer search, intermediary, search engine, search platform, online marketplace, vertical di¤erentiation JEL Classi…cation Number: D8, L1

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Section: Independent Values Of Matched Sellersmentioning

confidence: 99%

Intermediaries and consumer search

Chen

Zhang²

2018

International Journal of Industrial Organization

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“…Zhou [13] improved the ordered search model in which consumers search both for price and product fitness. Chen and Zhang [14] considered a consumer search model in a homogeneous product market where uninformed consumers search for price information. Haan and Moraga-González [15] studied the model that when consumers search for products, they first visit the firm whose advertising is most salient.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimal consumer search with prospect utility in hybrid uncertain environment

Zhou

Zhao

2015

J. Uncertain. Anal. Appl.

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This paper studies a consumer search model with prospect utility in a hybrid uncertain environment. Hybrid uncertainty consists of the uncertainty of the consumer's valuation for each product and the randomness of stockout. An optimal search strategy is designed for the consumer to search or buy a product. The results show that the presence of prospect utility can result in low purchase threshold. By comparative statics, we demonstrate that the consumer's purchase threshold for low-value product increases with the risk coefficients for gains and losses, while the purchase threshold for high-value product decreases with the risk coefficients for gains and losses. In addition, we find that the consumer who is more sensitive to the loss will search for much less products. Finally, some numerical examples are given to illustrate the relationships between the model without and with prospect utility and further verify the effectiveness and credibility of the conclusions.

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“…It focuses on the business which primary objective is to realize the maximum profit. Indeed, although the residential project has influences on local development but the result remains precarious, SPA 2 "provision capacity of employment", EPA₃ "provision capacity of public services" and SPA 4 "capacity provision of public infrastructure facilities" have no effect on SPA 7 "Improvement to the public health", SPA 8 "Increase in consumption level" and SPA₉"Improvement to standard of living". It is the same for the industrial project.…”

Section: Social Performance Attributesmentioning

confidence: 99%

“…It is not surprising when there is a local development impulsion. However, the conjugated efforts about SPA 3 "provision capacity of employment" and SPA 4 "provision capacity of public infrastructure facilities" remain insufficient for encouraging SPA 6 "safety standards", SPA 7 "improvement to the public health" and SPA 8 "increase in consumption level". Therefore, the difference between the social strata does not stop to dramatize because the rich get richer and the poor get poorer.…”

Section: Social Performance Attributesmentioning

confidence: 99%

Research on Metallurgical Project Design and Practices: Case Study CCTEC Co. Ltd.

Giron¹,

Yan²,

Zhao³

et al. 2014

AJIBM

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This paper discerns the socio-economic interests and environmental impacts generated by the projects of an industrial nature. Research has highlighted the traditional approach adoption that neglects the impact assessment of which environmental issues are causing in-depth imbalance between economic growth and environmental disaster threatening human life. The sustainable development principle requires the equitable distribution of the newly created wealth owing to economic growth in social and environmental fields. Hence, a new approach in accordance with the requirements of sustainable development should be recommended from the projects' design until their terms. This paper discusses the major challenges in the context of reorient to construction projects both in a conception stage than in the execution progress according to the sustainable development principle. An approach to this case study is the research method advocated. Traceability analysis and especially the followed of products sold by CCTEC Co. Ltd. have enabled to bring out on the one hand the four projects induced by products CCTEC Co. Ltd.: residential, public sector, industry and trade the other hand to measure the performance attributed by these projects. Research results show that economic performance is largely award winning without much concern to social and environmental performance. This situation suggests the revision of product design and production traceability in accordance with the sustainability of the project.

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Equilibrium price dispersion with heterogeneous searchers

Cited by 38 publications

References 20 publications

Intermediaries and consumer search

Intermediaries and consumer search

Optimal consumer search with prospect utility in hybrid uncertain environment

Research on Metallurgical Project Design and Practices: Case Study CCTEC Co. Ltd.

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