Costly Search, Capacity Constraints, and Bertrand Equilibrium Price Dispersion
研究同质企业价格竞争市场中，交易成本和产能约束如何导致价格离散的纳什均衡，消费者采用混合搜索策略，即使所有消费者有相同搜索成本和估值、价格公开。
This article analyzes the impact of transaction (search) costs and capacity constraints in an almost competitive market with homogeneous firms that compete on price. We characterize conditions under which Nash equilibria with price dispersion exist; in equilibrium, firms play pure strategies in prices and consumers adopt a symmetric mixed search strategy. Price dispersion is possible even though consumers all have the same search cost and valuation for the item and prices charged by all firms are common knowledge.