Chen, Yongmin; Zhang, Tianle - In: International Journal of Industrial Organization 29 (2011) 6, pp. 645-654
Firms simultaneously set prices in a homogeneous-product market where uninformed consumers search for price information …. Some uninformed consumers are “local” searchers who visit only one seller, whereas others search sequentially with an … benefits all consumers. A reduction in search cost sometimes leads to higher equilibrium prices. …