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A Model of Sales.
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This article is published in The American Economic Review.The article was published on 1980-01-01 and is currently open access. It has received 1976 citations till now. The article focuses on the topics: Sales management & Sales journal.read more
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Economics of Information
TL;DR: In this article, the authors introduce the concept of ''search'' where a buyer wanting to get a better price, is forced to question sellers, and deal with various aspects of finding the necessary information.
Journal ArticleDOI
Reducing buyer search costs: implications for electronic marketplaces
TL;DR: In this paper, the role of buyer search costs in markets with differentiated product offerings is analyzed in the context of an electronic marketplace, and the allocational efficiencies such a reduction can bring to a differentiated market are formalized.
Journal ArticleDOI
Frictionless Commerce? A Comparison of Internet and Conventional Retailers
TL;DR: The authors empirically analyzes the characteristics of the Internet as a channel for two categories of homogeneous products-books and CDs-using a data set of over 8,500 price observations collected over a period of 15 months, comparing pricing behavior at 41 Internet and conventional retail outlets.
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Frictionless Commerce? A Comparison of Internet and Conventional Retailers
TL;DR: The authors empirically analyzes the characteristics of the Internet as a channel for two categories of homogeneous products (books and CDs) using a data set of over 4,500 price observations collected over a period of 9 months.
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Five Facts about Prices: A Reevaluation of Menu Cost Models
Emi Nakamura,Jon Steinsson +1 more
TL;DR: In this article, the authors show that the frequency of price change is highly seasonal: it is highest in the first quarter and then declines, and that price increases covaries strongly with inflation, whereas price decreases and the size of price increases and decreases do not.
References
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Economics of Information
TL;DR: In this article, the authors introduce the concept of ''search'' where a buyer wanting to get a better price, is forced to question sellers, and deal with various aspects of finding the necessary information.
Book ChapterDOI
The Economics of Information
TL;DR: In this paper, the identification of sellers and the discovery of their prices is described as an example of the role of the search for information in economic life, and the identification and discovery of prices of goods and services is discussed.
Journal ArticleDOI
Equilibrium Distributions of Sales and Advertising Prices
TL;DR: In this paper, the authors focus on the formulation of equilibrium distributions of sales and advertising prices and develop a model in which sellers have constant average cost curves; approach to prove assumptions on consumer preferences; description of the basic model of consumer pricing.
Journal ArticleDOI
Models of Market Organization with Imperfect Information: A Survey
TL;DR: The authors surveys recent theoretical work characterizing markets whose participants act on the basis of sketchy and incomplete information, and identifies the features responsible for the different equilibria, and makes an attempt to identify the features that are responsible for market equilibrium.
Journal ArticleDOI
Price Differences in almost Competitive Markets
TL;DR: In this paper, the authors present empirically observed distributions of prices quoted by different sellers in different sellers' online auctions, with and without learning, in the context of knowledge transfer.