Price Dispersion and Stockpiling by Consumers
构建了一个均衡价格离散模型，假设消费者不搜索但能囤积非耐用品，从而内生生成需求曲线，证明均衡存在且垄断价格以正概率出现，并在线性版本中得到一些反常的比较静态结果。
This paper presents a model of equilibrium price dispersion in which buyers do not search. However they are able to store the non-durable commodity for future use. Such behaviour implies sellers' demand curves are endogenously generated by the observed price distribution. Equilibrium is shown to exist. Although more than one price may be charged in equilibrium, the monopoly price will occur with positive probability. Comparative static results are derived with a linear version of the model, some of which are "perverse".