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A generalized model of pricing for homogeneous goods under imperfect information

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.

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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.

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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
Record Number:CaltechAUTHORS:20171130-162319362
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:83614
Deposited By: Jacquelyn Bussone
Deposited On:01 Dec 2017 18:21
Last Modified:15 Nov 2021 20:12

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