Dynamic Competition With Random Demand and Costless Search: A Theory of Price Posting

DOI10.3982/ECTA8806zbMath1274.91281OpenAlexW1918519912MaRDI QIDQ2859084

James Peck, Raymond J. Deneckere

Publication date: 6 November 2013

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.3982/ecta8806

zbMATH Keywords

revenue managementdemand uncertaintydynamic competitioninformation effectendogenous rationingforward-looking consumersoption-value effect

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Consumer behavior, demand theory (91B42)

Related Items (5)

Temporary boycotts as self-fulfilling disruptions of markets ⋮ Information, Bertrand-Edgeworth competition and the law of one price ⋮ Revenue management by sequential screening ⋮ Dynamic price dispersion in Bertrand-Edgeworth competition ⋮ Too much waste, not enough rationing: the failure of stochastic, competitive markets

This page was built for publication: Dynamic Competition With Random Demand and Costless Search: A Theory of Price Posting