Market Organisation and Trading Relationships
构建了一个无标价易腐商品市场的买方行为理论模型，发现买方根据自身经验会分化为忠诚于特定卖家与继续比价两类，该特征在模拟和法国马赛鱼市场数据中得到验证。
In this paper we give a theoretical model of buyers' behaviour on a market for a perishable good where no prices are posted. We show that if buyers learn from their own previous experience there is a sharp division between those who learn to be loyal to certain sellers and those who continue to `shop around'. This feature remains in more general models which are simulated and is consistent with empirical data from the Marseille fish market.