Introductory Price as a Signal of Cost in a Model of Repeat Business
构建了一个两期博弈模型，分析企业如何通过入门价格向消费者传递成本信号，从而影响第二期价格，并解释了低价促销（入门销售）现象。
A two-period game between firms and consumers is considered. Firms are privately informed about their individual costs, and consumers must pay a search cost in order to learn a firm's current price. Consumers thus have incentive to use introductory price as a signal of cost and, hence, second period price. Recent refinements of the sequential equilibrium concept are employed, and the resulting equilibria involve low introductory prices (introductory sales).