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Dynamic Competition in Negotiated Price Markets

Jason Allen - ; Shaoteng Li - ;

Using contract-level data for the Canadian mortgage market, this paper provides evidence of an “invest-and-harvest” pricing pattern. We build a dynamic model of price negotiation with search and switching frictions to capture key market features. We estimate the model and use it to investigate the effects of market frictions and the resulting dynamic competition on borrowers' and banks' payoffs. We show that dynamic pricing and the presence of search and switching costs have important implications for public policies.


Ketersediaan

Call NumberLocationAvailable
PSB lt.2 - Karya Akhir (Koleksi Majalah)1
PenerbitUSA: The American Finance Association 2025
EdisiVolume 80, Issue 1, February 2025, Pages 561-614
SubjekDynamic pricing
Mortgage Market
Price Markets
Price Negotiation
Banks' Payoffs
ISBN/ISSN1540-6261
KlasifikasiNONE
Deskripsi Fisikill, chart, table, grafik, 649 hal, 20 cm
Info Detail SpesifikThe Journal of Finance
Other Version/RelatedTidak tersedia versi lain
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  • Dynamic Competition in Negotiated Price Markets
  • Dynamic Competition in Negotiated Price Markets

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