search query: @freeterm MARKET POWER / total: 16
reference: 11 / 16
| Author: | Cason, T. N. Friedman, D. Milam, G. H. |
| Title: | Bargaining versus posted price competition in customer markets |
| Journal: | International Journal of Industrial Organization
2003 : FEB, VOL. 21:2, p. 223-251 |
| Index terms: | Market theory Bargaining Prices |
| Freeterms: | Posted offers Market power |
| Language: | eng |
| Abstract: | The authors compare posted price and biletaral bargaining market instituions in 12 pairs of laboratory market sessions. Each session runs for 50-75 periods in a customer market environment, where buyers incur a cost to switch sellers. Costs evolve following a random walk process. Coasian and New institutional traditions provide competing conjectures on relative market performance. The authors find that efficiency is lower, sellers price higher, and prices are stickier under haggle than under posted offer. |
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