Equilibrium Price Distributions
研究同质产品在信息不完全市场中与个人激励一致的均衡价格分布，发现单一、多重和连续价格分布均可长期存在，取决于搜索成本的性质，并提供了计算方法。
Equilibrium price distributions (for a homogeneous product) consistent with individual incentives are investigated. They arise in informationally imperfect markets in which the only primitive datum is the distribution of search costs. It is shown that single, multi- and continuous price distributions are all viable long-run phenomena depending on the nature of search costs. A method for computing equilibrium price distributions is also provided.