A COMMENT ON “PRICE DISPERSION, INFLATION, AND WELFARE” BY A. HEAD AND A. KUMAR*
评论了Head和Kumar关于价格离散、通胀与福利的研究，指出其假设买方每期收到的报价数量服从泊松分布，该假设使模型推导简化并便于分析内生搜索努力。
The principal results of Head and Kumar's article are derived under the natural assumption that the number of price offers received per period by buyers is distributed Poisson. This case is of interest for two reasons. First, because the infinite sums and integrals that enter the equilibrium conditions can be solved in closed form, the derivations of the model's implications are straightforward. Second, by regarding the arrival rate as the relevant measure of search intensity, the analysis of endogenous search effort is simplified.