A Theory of Commerce

Faig, Miquel; Jerez, Belén

A Theory of Commerce

Autor(es): Faig, Miquel; Jerez, Belén

Editorial: Elsevier

Fecha de edición: 2005

Cita: Journal of Economic Theory. 2005, vol. 122, nº 1, p. 60-99

ISSN: 0022-0531

DOI: 10.1016/j.jet.2004.04.002

Agradecimientos: Financial support from SSHRC of Canada (Grant 410010028) and DGCYT of Spain (projects BEC2002-00642,BEC2000-01 72 and HI2001-0039) is gratefully acknowledged.

Revisado: PeerReviewed

Versión del editor: http://dx.doi.org/10.1016/j.jet.2004.04.002

Palabras clave: Retail trade , Directed search , Ex ante price offers , Private information

Clasificación JEL: D43 , D82 , D83 , E1

URI: http://hdl.handle.net/10016/5318

Derechos: ©Elsevier

Resumen:

The theory of commerce advanced here captures prominent features of retail trade: large employment, congestion effects, anonymous posted prices, and quantity discounts. This theory is built around a directed search model where buyers’ preferences are private i [+]

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