Monopolistic Competition Due to Consumers' Imperfect Information PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Monopolistic Competition Due to Consumers' Imperfect Information PDF full book. Access full book title Monopolistic Competition Due to Consumers' Imperfect Information by Avishay Braverman. Download full books in PDF and EPUB format.
Author: Avishay Braverman
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 274
Get Book Here
Book Description
Author: Avishay Braverman
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 274
Get Book Here
Book Description
Author: Michael Ray Metzger
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 214
Get Book Here
Book Description
Author: Michael R. Metzger
Publisher:
ISBN:
Category :
Languages : en
Pages : 95
Get Book Here
Book Description
Author: Dennis Eggert
Publisher: GRIN Verlag
ISBN: 3638803473
Category : Business & Economics
Languages : en
Pages : 36
Get Book Here
Book Description
Seminar paper from the year 2006 in the subject Economics - Industrial Economics, grade: 1,0, Helsinki School of Economics, course: Industrial Organisation, 18 entries in the bibliography, language: English, abstract: The main issue in the article is the derivation of a model in which prices can differ in equilibrium, even though the goods are homogeneous and there is asymmetric information in the market. The reason for this price dispersion is caused by consumer heterogeneity. Salop and Stiglitz explain, that "because of differences in preference or ability, some agents perform much better than others in market decisions." To model this kind of heterogeneity they assign different costs of gathering certain information to the consumers. For simplicity they part the consumers in two groups: The first one consists of low-cost information gatherer and the other group has higher cost to gain complete information. For further simplicity there are just two levels of information: to be completely informed or to be not informed at all. Furthermore the costs to become an informed consumer are fixed. The differences in information in this model regard the locations of the shops. All consumers know about all prices that are in the market, they just do not know where the shop with a certain (the lowest) price is. The shops on the other hand have complete information about the market. They know about the differences between the consumers and can compute the demand that will occur, when they ask a certain price. So they face a trade-off between higher prices and lower demand. It is important to state why there is a possibility of raising the price and not to loose all demand like it would be in a perfect market. When the rise in price is not too high, it does not pay for the high-cost information gatherer to become completely informed. Their expected loss by buying randomly either in low- or high-priced shops is lower than the fixed cost of gathering the information. All toget
Author: Asher Wolinsky
Publisher:
ISBN:
Category : Consumer information
Languages : en
Pages : 246
Get Book Here
Book Description
Author: Dennis Eggert
Publisher: GRIN Verlag
ISBN: 3638801381
Category : Business & Economics
Languages : en
Pages : 16
Get Book Here
Book Description
Seminar paper from the year 2006 in the subject Economics - Industrial Economics, grade: 1,0, Helsinki School of Economics, course: Industrial Organisation, language: English, abstract: The main issue in the article is the derivation of a model in which prices can differ in equilibrium, even though the goods are homogeneous and there is asymmetric information in the market. The reason for this price dispersion is caused by consumer heterogeneity. Salop and Stiglitz explain, that “because of differences in preference or ability, some agents perform much better than others in market decisions.” To model this kind of heterogeneity they assign different costs of gathering certain information to the consumers. For simplicity they part the consumers in two groups: The first one consists of low-cost information gatherer and the other group has higher cost to gain complete information. For further simplicity there are just two levels of information: to be completely informed or to be not informed at all. Furthermore the costs to become an informed consumer are fixed. The differences in information in this model regard the locations of the shops. All consumers know about all prices that are in the market, they just do not know where the shop with a certain (the lowest) price is. The shops on the other hand have complete information about the market. They know about the differences between the consumers and can compute the demand that will occur, when they ask a certain price. So they face a trade-off between higher prices and lower demand. It is important to state why there is a possibility of raising the price and not to loose all demand like it would be in a perfect market. When the rise in price is not too high, it does not pay for the high-cost information gatherer to become completely informed. Their expected loss by buying randomly either in low- or high-priced shops is lower than the fixed cost of gathering the information. All together this consumer heterogeneity and the fully informed shops can lead to price dispersion in equilibrium, even though the goods are homogeneous and there is the difference in information between the actors.
Author: Louis Phlips
Publisher: Cambridge University Press
ISBN: 9780521313810
Category : Business & Economics
Languages : en
Pages : 302
Get Book Here
Book Description
This book provides a systematic presentation of new microeconomic theories of imperfect information.
Author: Steven A. Greenlaw
Publisher:
ISBN: 9781947172432
Category : Business & Economics
Languages : en
Pages : 0
Get Book Here
Book Description
Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board's AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors.
Author: Mark A. Satterthwaite
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 92
Get Book Here
Book Description
Author: Asher Wolinsky
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
Get Book Here
Book Description
