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Cited by 468

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PRICE DISPERSION IN THE SMALL AND IN THE LARGE: EVIDENCE FROM AN INTERNET PRICE COMPARISON SITE

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Baye, Michael R., Morgan, John, Scholten, Patrick·2004·The Journal of Industrial Economics
DOI 10.1111/j.0022-1821.2004.00236.x
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Abstract

This paper examines four million daily price observations for more than 1,000 consumer electronics products on the price comparison site http://Shopper.com. We find little support for the notion that prices on the Internet are converging to the ‘law of one price.’ In addition, observed levels of price dispersion vary systematically with the number of firms listing prices. The difference between the two lowest prices (the ‘gap’) averages 23 per cent when two firms list prices, and falls to 3.5 per cent in markets where 17 firms list prices. These empirical results are an implication of a general ‘clearinghouse’ model of equilibrium price dispersion.

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Metadata

Authors
Baye, M. R., Morgan, J., & Scholten, P.
Venue
The Journal of Industrial Economics
Publisher
Wiley
Published
2004-12
Volume
52
Issue
4
Pages
463-496
ISSN
  • 0022-1821 (ISSN-L)
  • 1467-6451
DOI
10.1111/j.0022-1821.2004.00236.x
OpenAlex
W2104585159
Cited by
468
References
0
FWCI
97.80
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: PRICE DISPERSION IN THE SMALL AND IN THE LARGE: EVIDENCE FROM AN INTERNET PRICE COMPARISON SITE. https://app.cochat.ai/papers/10.1111/j.0022-1821.2004.00236.x
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Baye, M. R., Morgan, J., & Scholten, P. (2004). PRICE DISPERSION IN THE SMALL AND IN THE LARGE: EVIDENCE FROM AN INTERNET PRICE COMPARISON SITE. The Journal of Industrial Economics. https://doi.org/10.1111/j.0022-1821.2004.00236.x

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