When do Co‐located Firms Selling Identical Products Thrive?*
研究了当消费者到店才看到价格且部分消费者有时间比价时，相邻商店通过竞争压低价格吸引顾客，其利润随比价者数量呈单峰变化，存在最佳比价者比例。
When consumers only see prices once they visit stores, and some consumers have time to comparison shop, co‐location commits stores to compete and lower prices, which draws consumers away from isolated stores. Profits of co‐located firms are a single‐peaked function of the number of shoppers—co‐located firms thrive when there are some shoppers, but not too many. When consumers know in advance whether they have time to shop, effects are enhanced: co‐located stores may draw enough shoppers to drive the expected price paid by a non‐shopper below that paid when consumers do not know if they will have time to shop.