Using Transaction Prices to Re-Examine Price Dispersion in Electronic Markets


P dispersion is an important indicator of market efficiency. Internet-based electronic markets have the potential to reduce transaction and search costs, thereby creating more efficient, “frictionless” markets, as predicted by theories in information economics. However, earlier work has reported significant levels of price dispersion on the Internet, which… (More)
DOI: 10.1287/isre.1090.0252

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