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  1. 117 経済学研究科・経済学部
  2. 10 経済理論専攻
  3. Working Paper Series / UTokyo Price Project
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  2. 60 レポート類
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Why are product prices in online markets not converging?

http://hdl.handle.net/2261/53635
http://hdl.handle.net/2261/53635
86fda226-90bb-4015-afc9-0a7cf40eb2ca
名前 / ファイル ライセンス アクション
wp007.pdf wp007.pdf (152.3 kB)
Item type テクニカルレポート / Technical Report(1)
公開日 2015-05-11
タイトル
タイトル Why are product prices in online markets not converging?
言語
言語 eng
資源タイプ
資源 http://purl.org/coar/resource_type/c_18gh
タイプ technical report
著者 Mizuno, Takayuki

× Mizuno, Takayuki

WEKO 98055

Mizuno, Takayuki

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Watanabe, Tsutomu

× Watanabe, Tsutomu

WEKO 98056

Watanabe, Tsutomu

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著者所属
著者所属 National Institute of Informatics
著者所属
著者所属 Graduate School of Echonomics, University of Tokyo
著者所属
著者所属 The Canon Institute for Global Studies
抄録
内容記述タイプ Abstract
内容記述 Why are product prices in online markets dispersed in spite of very small search costs? To address this question, we construct a unique dataset from a Japanese price comparison site, which records price quotes offered by e-retailers as well as customers’ clicks on products, which occur when they proceed to purchase the product. We find that the distribution of prices retailers quote for a particular product at a particular point in time (divided by the lowest price) follows an exponential distribution, showing the presence of substantial price dispersion. For example, 20 percent of all retailers quote prices that are more than 50 percent higher than the lowest price. Next, comparing the probability that customers click on a retailer with a particular rank and the probability that retailers post prices at a particular rank, we show that both decline exponentially with price rank and that the exponents associated with the probabilities are quite close. This suggests that the reason why some retailers set prices at a level substantially higher than the lowest price is that they know that some customers will choose them even at that high price. Based on these findings, we hypothesize that price dispersion in online markets stems from heterogeneity in customers’ preferences over retailers; that is, customers choose a set of candidate retailers based on their preferences, which are heterogeneous across customers, and then pick a particular retailer among the candidates based on the price ranking.
内容記述
内容記述タイプ Other
内容記述 2012~2016年度科学研究費補助金[基盤研究(S)]「長期デフレの解明」(研究代表者 東京大学経済学研究科・渡辺努, 課題番号:24223003)
書誌情報 JSPS Grants-in-Aid for Scientific Research (S) Understanding Persistent Deflation in Japan Working Paper Series

巻 007, 発行日 2013-04
出版者
出版者 UTokyo Price Project
関係URI
識別子タイプ URI
関連識別子 http://www.price.e.u-tokyo.ac.jp/researchdata/
異版あり
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識別子タイプ URI
関連識別子 http://www.carf.e.u-tokyo.ac.jp/workingpaper/F314.html
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