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- W1994977462 abstract "In this article, I analyze price competition under price inertia. After setting prices, sellers are unable to change them for a period of predetermined length, but may delay price commitments indefinitely. Although most consumers consider the firms' products to be perfect substitutes, an arbitrarily small number of consumers display brand loyalty to a particular firm, even when the competing brand is cheaper. In this article, I show that a firm with even slightly fewer captive consumers than its competitor achieves monopoly power over all remaining consumers." @default.
- W1994977462 created "2016-06-24" @default.
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- W1994977462 date "1994-01-01" @default.
- W1994977462 modified "2023-09-26" @default.
- W1994977462 title "Asymmetric Price Competition with Price Inertia" @default.
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- W1994977462 doi "https://doi.org/10.2307/2555977" @default.
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