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SMU SOE Seminar (March 9, 2023): Comparison Shopping: Learning Before Buying from Duopolists
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TOPIC:
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COMPARISON SHOPPING: LEARNING BEFORE BUYING FROM DUOPOLISTS
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ABSTRACT
We explore a model of duopolistic competition in which consumers flexibly learn about the fit–both relative and absolute–of each competitor’s product. When information is cheap, increasing the cost of information decreases consumer welfare; but when information is expensive, this relationship flips: cheaper information hurts consumers. When the sellers’ goods are both high and low value with positive probability, as information frictions vanish, the limiting equilibrium is ex post efficient, in contrast to the monopoly model studied by Ravid et al. (2022).
Click here to view the CV.
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PRESENTER
Mark Whitmeyer
Arizona State University
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RESEARCH FIELDS
Microeconomic Theory
Information Economics
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DATE:
9 March 2023 (Thursday)
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TIME:
4pm - 5.30pm
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VENUE:
Meeting Room 5.1, Level 5
School of Economics
Singapore Management University
90 Stamford Road
Singapore 178903
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