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- W1987409603 abstract "A retail market in which customers repeat purchase is modelled. When customer movement between firms is sluggish, price overshooting characterizes firms' optimal response to demand or cost shocks. Thus retail prices would be predicted to be more variable than wholesale prices, a prediction at variance with empirical evidence. Uncertainty in demand and customer imperfect information are introduced into the model to attempt to reconcile this inconsistency between theory and evidence. The introduction of demand uncertainty actually increases the magnitude of price overshooting. By contrast, the introduction of imperfect customer information reduces the variability in retail prices. Copyright © 1995, Wiley Blackwell. All rights reserved" @default.
- W1987409603 created "2016-06-24" @default.
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- W1987409603 date "1995-06-01" @default.
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- W1987409603 title "Price Dynamics in Repeat-Purchase Markets" @default.
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- W1987409603 doi "https://doi.org/10.1111/j.1475-4932.1995.tb01884.x" @default.
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