Search and Ripoff Externalities
This paper surveys models of markets in which only some consumers are "savvy". I discuss when the presence of savvy consumers improves the deals available to all consumers (the case of search externalities), and when the non-savvy consumers fund generous deals for all consumers (ripoff ext...
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| Veröffentlicht in: | Review of industrial organization 2015-11, Vol.47 (3), p.273-302 |
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| container_title | Review of industrial organization |
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| creator | Armstrong, Mark |
| description | This paper surveys models of markets in which only some consumers are "savvy". I discuss when the presence of savvy consumers improves the deals available to all consumers (the case of search externalities), and when the non-savvy consumers fund generous deals for all consumers (ripoff externalities). I also discuss when the two groups of consumers have aligned or divergent views about market interventions. The analysis focusses on two kinds of models: (1) an indivisible product in a market with price dispersion; and (2) products that involve add-on pricing. |
| doi_str_mv | 10.1007/s11151-015-9480-1 |
| format | Article |
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| identifier | ISSN: 0889-938X |
| ispartof | Review of industrial organization, 2015-11, Vol.47 (3), p.273-302 |
| issn | 0889-938X 1573-7160 |
| language | eng |
| recordid | cdi_proquest_journals_1717977989 |
| source | Springer Journals; PAIS Index; JSTOR; EBSCOhost Business Source Complete |
| subjects | Consumer attitudes Consumer behavior Consumer protection Consumers Economics Economics and Finance Equilibrium Externality Industrial Organization Market equilibrium Microeconomics Prices Studies |
| title | Search and Ripoff Externalities |
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