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| Tekijä: | Carlin, B.I. |
| Otsikko: | Strategic price complexity in retail financial markets |
| Lehti: | Journal of Financial Economics
2009 : MAR, VOL. 91:3, p. 278-287 |
| Asiasana: | financial markets prices complexity oligopoly models |
| Kieli: | eng |
| Tiivistelmä: | Empirical evidence suggests that the law of one price is violated in retail financial markets: there is significant price dispersion even with homogeneous products. In addition, in spite of the large number of firms in the market, prices remain above marginal cost, possibly even rising with more firms entering. Using a non-cooperative oligopoly pricing model, these anomalies are shown to arise when firms add complexity to their price structures etc. |
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