题  目: Entry and Welfare in Search Markets

报告人：张天乐    香港理工大学

主持人：叶  兵

时  间：2013年5月10日   星期五   15:00-17:00

地  点：浙大玉泉校区外经贸大楼418室
 

             欢迎广大师生参加！

摘要: This paper studies a search model in which sellers potentially differ
 both vertically, defined as their match probabilities, and horizontally. 
Consumers search sequentially to find out their preferred products. Lower
 entry cost, which induces more active sellers but with lower average match
 probability, affects the search scope, search efficiency, and search 
intensity through the variety, quality and price effects. Under some 
condition, we find that consumer welfare is an inverted-U function of the
 level of entry. Moreover, a decrease in average quality, which reduces the
 expected search benefit, may increase equilibrium prices. Our results have
 important policy implications.

                                                CRPE秘书处
                                                   2013-5-4