Price Dispersion and Short Run Equilibrium in a Queuing Model

Michael Sattinger

Discussion Papers from University at Albany, SUNY, Department of Economics

Abstract: Price dispersion is analyzed in the context of a queuing market where customers enter queues to acquire a good or service and may experience delays. With menu costs, price dispersion arises and can persist in the medium and long run. The queuing market rations goods in the same way whether firm prices are optimal or not. Price dispersion reduces the rate at which customers get the good and reduces customer welfare.

Date: 2003
New Economics Papers: this item is included in nep-lab
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