(Q,S,s) Pricing Rules
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We study the effect of menu costs on the pricing behavior of sellers and on the cross-sectional distribution of prices in the search-theoretic model of imperfect competition of Burdett and Judd (1983). We find that, when menu costs are small, the equilibrium is such that sellers follow a (Q,S,s)
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美国国家经济研究局创建时间：
2013-05-01
