Asymmetry of customer loss and recovery under endogenous partnerships: Theory and evidence

Takako Fujiwara-Greve, Henrich R. Greve, Stefan Jonsson

研究成果: Article査読

1 被引用数 (Scopus)

抄録

This article is inspired by real-world phenomena that firms lose customers based on imprecise information and take a long time to recover. If consumers are playing an ordinary repeated game with fixed partners, there is no clear reason why recovery happens slowly. However, if consumers are playing an endogenously repeated game, a class of simple efficient equilibria exhibits the asymmetry of fast loss and slow recovery of customers after a bad signal. Exit is systematic, but formation of a new partnership is random. We also give empirical evidence of our equilibria at an individual-firm level.

本文言語English
ページ(範囲)3-30
ページ数28
ジャーナルInternational Economic Review
57
1
DOI
出版ステータスPublished - 2016 2 1

ASJC Scopus subject areas

  • Economics and Econometrics

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