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Price Dispersion
An annotated collection of 1 papers on price dispersion, spanning 1961. Featuring works by George J. Stigler — each with editorial commentary oriented to digital product practice.
The Economics of Information
George J. Stigler, 1961 · Journal of Political Economy, Vol. 69, No. 3
Stigler's opening move in what became the economics of information: if information is costly to acquire, then price dispersion in a market is not a sign of irrationality but the rational equilibrium outcome of search beh…