On Search Theory and Customers

Huberto Ennis

Económica, 2000, vol. XLVI, issue 1, 3-21

Abstract: This paper studies a simple model of decentralized exchange where consumers have to search for a seller that provides the services they want. Once a buyer finds one of these “good” stores, a customer relationship between the two develops. We study the factors on which the formation of this link depends and some of their properties and characteristics. We define a Customers Steady State Equilibrium and give conditions under which one of these exists. Finally, we show how these customer relationships impose a certain sluggishness on the economy as it responds to changes in the cost of production.

Date: 2000
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Related works:
Journal Article: On Search Theory and Customers (2000)
Working Paper: On Search Theory and Customers (1998)
Working Paper: On Search Theory and Customers (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:akh:journl:507

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