Consumer desired price modeling ? case study on the RCBS market
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F12%3A50000697" target="_blank" >RIV/62690094:18450/12:50000697 - isvavai.cz</a>
Result on the web
<a href="http://ac.els-cdn.com/S1877042812035963/1-s2.0-S1877042812035963-main.pdf?_tid=6f86f0e0-5b03-11e2-9189-00000aab0f02&acdnat=1357808288_fb188a5682aa69b2264d4c65b248e038" target="_blank" >http://ac.els-cdn.com/S1877042812035963/1-s2.0-S1877042812035963-main.pdf?_tid=6f86f0e0-5b03-11e2-9189-00000aab0f02&acdnat=1357808288_fb188a5682aa69b2264d4c65b248e038</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.sbspro.2012.09.155" target="_blank" >10.1016/j.sbspro.2012.09.155</a>
Alternative languages
Result language
angličtina
Original language name
Consumer desired price modeling ? case study on the RCBS market
Original language description
This paper is focused on the information asymmetry problem. When the consumer has a market overview then the optimal product can be chosen more or less easily. We model more realistic situation where the consumer does not have a market overview and so the process of search has to be performed. The harder the search is the higher information asymmetry is. The aim of the paper is to find if the information asymmetry prevents the consumer to find optimal product and if yes then to model what price rationalconsumer will choose. For this purpose we reworked Stigler?s model into the model more suitable for the small market needs. We used this model on the retail core banking services to individuals in the Czech Republic. On this market the information asymmetry was found within the European Union research as well as within our own research. We find that information asymmetry prevents even low search cost user the optimal price choice, we are abstracting from the influence of scattered knowl
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Procedia - social and behavioral sciences
ISSN
1877-0428
e-ISSN
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Volume of the periodical
62
Issue of the periodical within the volume
24.10.2012
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
5
Pages from-to
916-920
UT code for WoS article
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EID of the result in the Scopus database
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