| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
Firm-specific information, product differentiation, and industry equilibrium
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| Autores: |
Perloff, Jeffrey M.
Salop, Steven
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| Data: |
2009-01-22
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| Ano: |
1985
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| Palavras-chave: |
Competition
Consumers
Consumers' preferences
Consumer education
Mathematical models
Demand elasticity
Economics
Equilibrium
Marketing
Consumer/Household Economics
Demand and Price Analysis
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| Resumo: |
Where consumers have imperfect information about specific firms’ prices and lack information about the market, firms have informational market power. In general, improving the consumer’s information about each firm’s price will not necessarily lower average market price. We show, however, that certain types of improvements will lower price. Moreover, a reduction in barriers to entry (e.g., capital costs) will lower price-holding information constant. Where a significant number (but not all) consumers have perfect information, single-price equilibria are impossible.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/47003
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| Relação: |
University of California, Berkeley>Department of Agricultural and Resource Economics>CUDARE Working Papers
CUDARE Working Paper
154R
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| Formato: |
37
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