2017
DOI: 10.2139/ssrn.2952238
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Dynamic Pricing with Search Frictions

Abstract: This paper studies dynamic pricing in markets with search frictions. Sellers have a single unit of a good and post prices in every trading period. Buyers have to incur a search cost to match with a new seller and upon matching they observe the price and the realization of some idiosyncratic match value. There is no discounting but trade ends at an exogenously given deadline. We show that equilibrium involves trading in finitely many trading periods and the volume of trade increases over time. Under mild condit… Show more

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