Switching costs, experience goods and dynamic price competition
Switching costs, experience goods and dynamic price competition
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DOI：
10.1007/s11129-010-9083-y
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发表时间：
2010-02
期刊：
影响因子：
--
通讯作者：
Toker Doganoglu
中科院分区：
文献类型：
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作者：
Toker Doganoglu
我分析了具有无限视界的动态双寡头垄断，其中消费者不确定他们对产品的潜在满意度，并面临转换成本。我得到了一个马尔可夫完美平衡（MPE）存在的充分条件，其中切换发生在每个周期。我表明，当转换成本足够低时，稳定状态下的价格低于没有转换成本时的价格。这一结果与文献中发现的结果相反。在低转换成本的情况下，竞争可能会更加激烈。
I analyze a dynamic duopoly with an infinite horizon where consumers are uncertain about their potential satisfaction from the products and face switching costs. I derive sufficient conditions for the existence of a Markov Perfect Equilibrium(MPE) where switching takes place each period. I show that when switching costs are sufficiently low, the prices in the steady state are lower than what they would have been when they are absent. This result is in contrast to those found in the literature. In the presence of low switching costs competition can be fiercer.