RETAIL TRADE CONCENTRATION DUE TO CONSUMERS' IMPERFECT INFORMATION.

Asher Wolinsky*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

81 Scopus citations

Abstract

The main idea of this study is that geographical concentration of stores selling similar products can be explained by consumers' imperfect information and their resulting need to search the market. A cluster of stores sustained by these forces is not necessarily located at the point that minimizes consumer transportation costs - a fact that distinguishes it from clustering phenomena which may be explained by Hotelling-type arguments. For the purposes of the analysis this work presents a model of monopolistic competition under imperfect information which could be of independent interest.

Original languageEnglish (US)
Pages (from-to)275-282
Number of pages8
JournalBell Journal of Economics
Volume14
Issue number1
DOIs
StatePublished - Jan 1 1983

ASJC Scopus subject areas

  • Engineering(all)

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