Prices and heterogeneous search costs
研究消费者搜索成本不同时，差异化产品市场的价格如何形成，发现搜索成本通过影响搜索强度与是否搜索两个渠道，对需求弹性产生相反作用，进而决定价格高低。
We study price formation in a model of consumer search for differentiated products in which consumers have heterogeneous search costs. We provide conditions under which a pure‐strategy symmetric Nash equilibrium exists and is unique. Search costs affect two margins—the intensive search margin (or search intensity) and the extensive search margin (or the decision to search rather than to not search at all). These two margins affect the elasticity of demand in opposite directions and whether lower search costs result in higher or lower prices depends on the properties of the search cost density.