Price discrimination under minimum advertised price restriction
研究了最低广告价格（MAP）政策对零售定价的影响，发现MAP并非最低转售价格维持，而是信息约束，导致价格低于MAP、零售商间价格分散更大，且MAP下降后部分零售价反而上升。
A minimum advertised price (MAP) policy is a popular vertical restraint. We study retail pricing under MAP using price data of Seagate hard disk drives on US online retailers. The data suggest that MAP is not a form of minimum resale price maintenance (RPM). First, we find that retail prices are often lower than MAP. Second, retail prices of products subject to MAP have greater dispersions between retailers. Lastly, some retail prices can increase after a MAP decrease. These observations are consistent with the predictions of a search model that interprets MAP as a form of information restraint.