On search theory and customers

Authors

  • Huberto María Ennis

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.

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Published

2000-06-30

How to Cite

Ennis, . H. M. (2000). On search theory and customers. Económica, 46(1), p. 3–21. Retrieved from https://revistas.unlp.edu.ar/Economica/article/view/8532

Issue

Vol. 46 No. 1 (2000)

Section

Articles

License

The material published in the journal is distributed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) license. This license requires proper credit to be given, a link to the license to be provided, and changes to be indicated. It does not permit commercial use of the work, and if the work is remixed, transformed, or otherwise modified, distribution of such modification is not allowed.