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| Author: | Goldmanis, M. (et al.) |
| Title: | E-commerce and the market structure of retail industries |
| Journal: | Economic Journal
2010 : JUN, VOL 120:545 p. 651-682 |
| Index terms: | markets industries CONSUMER BEHAVIOUR market share household economics prices |
| Freeterms: | e-commerce |
| Language: | eng |
| Abstract: | This paper examines the effect of the advent and diffusion of e-commerce on supply-side industry structure. A general industry model involving consumers with differing search costs buying products from heterogeneous producers is specified. E-commerce as a reduction in consumers' search costs is interpreted. It is shown how it reallocates market shares from high-cost to low-cost producers. The model is tested using US data for three industries: travel agencies, bookstores and new car dealers. |
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