Price Competition with Consumer Confusion
研究同质产品卖家在价格和价格呈现方式（框架）上的竞争，发现企业随机选择框架以混淆价格比较，维持正利润，且竞争者增多会加剧框架复杂性，可能提高行业利润、降低消费者剩余。
This paper proposes a model in which identical sellers of a homogeneous product compete in both prices and price frames (i.e., ways to present price information). Frame choices affect the comparability of price offers and may cause consumer confusion and lower price sensitivity. In equilibrium, firms randomize their frame choices to obfuscate price comparisons and sustain positive profits. The nature of the equilibrium depends on whether frame differentiation or frame complexity is more confusing. Moreover, an increase in the number of competitors induces firms to rely more on frame complexity, and this may boost industry profits and lower consumer surplus. This paper was accepted by J. Miguel Villas-Boas, marketing.