Changes
Jump to navigation
Jump to search
Baye Morgan Scholten (2006) - Information Search and Price Dispersion (view source)
Revision as of 23:00, 25 January 2010
, 23:00, 25 January 2010ββThe 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>