Law of One Price under Equilibrium Price Dispersion: Arbitrage and Optimization of Search
If the demand under price dispersion is formed by consumers with zero search costs and consumers with positive search costs, the law of one price holds at the equilibrium price level, where the lowest willingness to pay between consumers with zero search costs meets the willingness to accept or to s...
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| Format: | Article |
| Language: | English |
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Ltd. "Humanities Perspectives"
2016-03-01
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| Series: | Журнал институциональных исследований |
| Subjects: | |
| Online Access: | http://www.hjournal.ru/files/JIS_8.1/JIS_8.1_5.pdf |