A theory of stable price dispersion
We propose a two-stage replacement for established “clearinghouse" or “captive and shopper" pricing models: second-stage retail prices are constrained by first-stage list prices. In contrast to the mixed-strategy equilibria of single-stage games, a unique profile of d...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
University of Oxford
2019
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