Rockets and feathers: Understanding asymmetric pricing
构建了一个竞争企业模型，其中消费者理性但信息不完全，自然产生了价格对成本不对称响应的现象，无需合谋即可解释“火箭与羽毛”的定价模式。
Prices rise like rockets but fall like feathers. This stylized fact of many markets is confirmed by many empirical studies. In this article, I develop a model with competitive firms and rational partially informed consumers where the asymmetric response to costs by firms emerges naturally. In contrast to public opinion and past work, collusion is not necessary to explain such a result.