Equilibrium Price Dispersion: A Model of Intermediated Search with Repeated Interaction
Field | Value | Language |
dc.contributor.author | Cusbert, Thomas | |
dc.date.accessioned | 2010-09-01 | |
dc.date.available | 2010-09-01 | |
dc.date.issued | 2008-01-01 | |
dc.identifier.uri | http://hdl.handle.net/2123/6440 | |
dc.description.abstract | This thesis develops a model in which homogeneous producers and merchants interact repeatedly in a search market. Merchants are able to reduce the cost of search by o ering trading certainty to pro- ducers with whom they have a preexisting relationship. Equilibria are characterised in Markov strategies, and it is found that price- dispersed equilibria exist in asymmetric strategies. Conditions in which a price-dispersed equilibrium can be welfare improving com- pared to a single-price equilibrium are found, and two extensions to the basic model are provided. | en_AU |
dc.language.iso | en_AU | en_AU |
dc.rights | The author retains copyright of this thesis | |
dc.title | Equilibrium Price Dispersion: A Model of Intermediated Search with Repeated Interaction | en_AU |
dc.type | Thesis, Honours | en_AU |
dc.contributor.department | Discipline of Economics | en_AU |
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