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Essays on Information, Search and Pricing.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Essays on Information, Search and Pricing./
Author:	Dai, Yifan.
Description:	1 online resource (180 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 78-12(E), Section: A.
Contained By:	Dissertation Abstracts International78-12A(E).
Subject:	Economic theory. -
Online resource:	click for full text (PQDT)
ISBN:	9780355244151

Essays on Information, Search and Pricing.
Dai, Yifan.

Essays on Information, Search and Pricing. - 1 online resource (180 pages)

Source: Dissertation Abstracts International, Volume: 78-12(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

This dissertation consists of three essays in microeconomic theory with an emphasis on consumer search and strategic experimentation. Among many issues, I shed some lights on search frictions, commitment and information.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355244151Subjects--Topical Terms:

809881
Economic theory.
Index Terms--Genre/Form:

554714
Electronic books.

Essays on Information, Search and Pricing.
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035 $a AAI10283147
040 $a MiAaPQ $b eng $c MiAaPQ
099 $a TUL $f hyy $c available through World Wide Web
100 1 $a Dai, Yifan. $3 1178209
245 1 0 $a Essays on Information, Search and Pricing.
264 0 $c 2017
300 $a 1 online resource (180 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertation Abstracts International, Volume: 78-12(E), Section: A.
500 $a Adviser: Kyungmin Kim.
502 $a Thesis (Ph.D.) $c The University of Iowa $d 2017.
504 $a Includes bibliographical references
520 $a This dissertation consists of three essays in microeconomic theory with an emphasis on consumer search and strategic experimentation. Among many issues, I shed some lights on search frictions, commitment and information.
520 $a In Chapter 1, we consider an oligopoly model in which consumers engage in sequential search based on partial product information and advertised prices. We derive a simple condition that fully summarizes consumers' shopping outcomes and use the condition to reformulate the pricing game among the sellers as a familiar discrete-choice problem. Exploiting the reformulation, we provide sufficient conditions that guarantee the existence and uniqueness of pure-strategy market equilibrium and obtain several novel insights about the effects of search frictions on market prices. Among others, we show that a reduction in search costs increases market prices, but providing more pre-search information raises market prices if and only if there are sufficiently many sellers.
520 $a In Chapter 2, I study the effects of limited price commitment on consumer search and optimal pricing. I consider an environment in which consumers are uncertain about a seller's commitment to the advertised price. I characterize the set of pure-strategy equilibria and find that a higher degree of commitment is beneficial to the consumers. I evaluate the effects of regulation that limits the extent of a seller's deviation from the advertised price and demonstrate that stricter regulation may not be welfare improving. I also consider the case where sellers have heterogeneous levels of commitment power and investigate how the difference in commitment power influences market outcomes. I find that a higher degree of commitment does not direct consumers' search order when all sellers have limited commitment. Conversely, full commitment allows a seller to dictate consumers' visit when his rivals have limited commitment. Finally, I show that the impact of search costs on prices depends on the level of commitment, the magnitude of the search cost and whether consumers have ex-ante heterogenous valuations of the product.
520 $a In Chapter 3, we consider a two-player exit game in which each player faces a one-armed bandit problem and the two players' types are negatively correlated. We provide a closed-form characterization of the unique (perfect Bayesian) equilibrium of the game. We show that, in stark contrast to the case of positive correlation, the players exit the game at an increasing rate over time and one player exits for sure before a deterministic time.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Economic theory. $3 809881
655 7 $a Electronic books. $2 local $3 554714
690 $a 0511
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The University of Iowa. $b Economics. $3 1179196
773 0 $t Dissertation Abstracts International $g 78-12A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10283147 $z click for full text (PQDT)