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Baye Morgan Scholten (2006) - Information Search and Price Dispersion (view source)
Revision as of 23:00, 25 January 2010
, 23:00, 25 January 2010→The Stigler (1961) Model
A firm charging price <math>p\,</math> is visited by <math>\mu n^* customers\,</math>customers
A firm charging price <math>p \,</math> offers the lowest price with probability <math>(1-F(p))^{n^*-1}\,</math>
