Endogenous Prices in Markets with Reputational Concerns
成果类型：
Article
署名作者：
Knutsen, Magnus Vage
署名单位：
BI Norwegian Business School; BI Norwegian Business School
刊物名称：
RAND JOURNAL OF ECONOMICS
ISSN/ISSBN：
0741-6261
DOI：
10.1111/1756-2171.12502
发表日期：
2025
页码：
269-284
关键词：
摘要：
I set up a dynamic experience goods model where a long-lived seller interacts with a sequence of short-lived buyers and where the seller has reputational concerns. The key innovation of the article is to endogenize prices in this framework, specifically by endowing either the seller or the buyers with the ability to post price. I show that influence over prices has a strong impact on equilibrium characteristics. If the seller posts price, equilibria will display work-shirk dynamics. If the buyers post price, however, there is always an equilibrium where the seller builds and perpetually maintains her reputation.
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