Market frictions: A unified model of search costs and switching costs
建立统一模型分析搜索成本与转换成本如何共同影响消费者行为、市场竞争和福利，并给出分别估计两种成本的实证方法，对产业组织学者和政策制定者有参考价值。
It is well known that search costs and switching costs can create market power by constraining the ability of consumers to change suppliers. While previous research has examined each cost in isolation, this paper demonstrates the benefits of examining the two types of friction in unison. The paper shows how subtle distinctions between the two costs can provide important differences in their effects upon consumer behaviour, competition and welfare. In addition, the paper also illustrates a simple empirical methodology for estimating separate measures of both costs, while demonstrating a potential bias that can arise if only one cost is considered.