Multiproduct equilibrium price dispersion (vol 67, pg 83, 1995)

• 成果类型: Correction
• 署名作者: Orzach, Roi
• 署名单位: Massachusetts Institute of Technology (MIT)
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2021.105304
• 发表日期: 2021
• 关键词: price dispersion; multiproduct firms

摘要

McAfee (1995) proposes a model of price dispersion with multiproduct firms. Theorem 7 in McAfee (1995) incorrectly characterizes one class of equilibria in this setting, constant profits equilibria. I provide a counterexample to this theorem and show that two main features McAfee (1995) emphasizes are still true: such equilibria can exist with more than two products but cannot exist if the number of products tends to infinity. (C) 2021 Published by Elsevier Inc.