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Demand uncertainty, search costs and...

The University of Chicago.

Demand uncertainty, search costs and price dispersion: Evidence from the online book industry.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Demand uncertainty, search costs and price dispersion: Evidence from the online book industry.
作者:	Wan, Minhua.
面頁冊數:	53 p.
附註:	Advisers: Austan Goolsbee; Robert P. Gwinn.
附註:	Source: Dissertation Abstracts International, Volume: 67-05, Section: A, page: 1844.
Contained By:	Dissertation Abstracts International67-05A.
標題:	Economics, General.
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3219600
ISBN:	9780542711763

Demand uncertainty, search costs and price dispersion: Evidence from the online book industry.
Wan, Minhua.

Demand uncertainty, search costs and price dispersion: Evidence from the online book industry. - 53 p.

Advisers: Austan Goolsbee; Robert P. Gwinn.

Thesis (Ph.D.)--The University of Chicago, 2006.

This paper presents a model that allows both demand uncertainty and search costs to determine equilibrium price dispersion. The effects of demand uncertainty and search costs are mediated by industry capacity. If capacity is never binding only search costs matter for price dispersion. Otherwise, both demand uncertainty and search costs play a role: price dispersion increases as the probability of stock-out decreases and this relationship is channeled by search costs. I test the model's predictions empirically by creating a comprehensive dataset of online book sales and examining how demand uncertainty affects the price dispersion of online bookstores. I find that books with a larger stock-out probability have smaller price dispersion after controlling for bookstore characteristics, consistent with the model's prediction. Furthermore, the price dispersion of bestseller books shows less responsiveness to stock-out probability changes, suggesting that stock-out issues are less relevant for books with lower search costs.

ISBN: 9780542711763Subjects--Topical Terms:

212429
Economics, General.

Demand uncertainty, search costs and price dispersion: Evidence from the online book industry.
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502 $a Thesis (Ph.D.)--The University of Chicago, 2006.
520 # $a This paper presents a model that allows both demand uncertainty and search costs to determine equilibrium price dispersion. The effects of demand uncertainty and search costs are mediated by industry capacity. If capacity is never binding only search costs matter for price dispersion. Otherwise, both demand uncertainty and search costs play a role: price dispersion increases as the probability of stock-out decreases and this relationship is channeled by search costs. I test the model's predictions empirically by creating a comprehensive dataset of online book sales and examining how demand uncertainty affects the price dispersion of online bookstores. I find that books with a larger stock-out probability have smaller price dispersion after controlling for bookstore characteristics, consistent with the model's prediction. Furthermore, the price dispersion of bestseller books shows less responsiveness to stock-out probability changes, suggesting that stock-out issues are less relevant for books with lower search costs.
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