Sadanan, Asha and Wilde, Louis L. (1982) A generalized model of pricing for homogeneous goods under imperfect information. Review of Economic Studies, 49 (2). pp. 229-240. ISSN 0034-6527. doi:10.2307/2297272. https://resolver.caltech.edu/CaltechAUTHORS:20171130-162319362
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Abstract
This paper generalizes the model developed in Wilde and Schwartz (1979) to allow downward sloping demand curves and u-shaped average cost curves. It shows that the basic qualitative conclusions of Wilde and Schwartz still hold. Moreover, it shows that the critical proportion of comparison shoppers needed to generate a competitive equilibrium falls as demand becomes more elastic or average costs become more inelastic. Finally, it shows that when imperfect information generates non-competitive outcomes, they are bounded below, in welfare terms, by the monopolistically competitive equilibrium.
| Item Type: | Article | |||||||||
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| Additional Information: | © 1982 The Society for Economic Analysis Limited. First version received June 1981; final version accepted November 1981 (Eds.). Formerly SSWP 386. | |||||||||
| Issue or Number: | 2 | |||||||||
| DOI: | 10.2307/2297272 | |||||||||
| Record Number: | CaltechAUTHORS:20171130-162319362 | |||||||||
| Persistent URL: | https://resolver.caltech.edu/CaltechAUTHORS:20171130-162319362 | |||||||||
| Usage Policy: | No commercial reproduction, distribution, display or performance rights in this work are provided. | |||||||||
| ID Code: | 83614 | |||||||||
| Collection: | CaltechAUTHORS | |||||||||
| Deposited By: | Jacquelyn Bussone | |||||||||
| Deposited On: | 01 Dec 2017 18:21 | |||||||||
| Last Modified: | 15 Nov 2021 20:12 |
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