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| Author: | Smith, E. |
| Title: | Intermediated search |
| Journal: | Economica
2004 : NOV, VOL. 71:284, p. 619-636 |
| Index terms: | Consumer behaviour |
| Language: | eng |
| Abstract: | This article examines intermediates, who match consumers with products fitting their needs. This is useful when buyers cant observe product characteristics. The distribution of benefits from this intermediation depends critically on the number of products available. If product variety is low, increases in capacity heightens competition, thereby lowering prices. On the other hand, with many products available, companies act as monopolies. In this case increased capacity raises prices. |
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