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Anchor stores

delete2003-05-01
delete49
PRE
AI
H
Hideo Konishi *
S
Sandfort, MT
DOI：10.1016/S0094-1190(03)00002-0delete
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Abstract

Abstract

En 中文
Planned shopping malls usually have one or more department (anchor) stores and multiple specialized retailers selling substitutable commodities in each commodity category. If consumers know their taste for the anchor's commodity and its price, but learn about a retailer's commodity only by costly search, collocation may benefit both store types. Intra-mall competition reduces markups, but anchors guarantee a minimum surplus from search. A mall with many retailers makes finding a suitable specialized commodity highly probable. For some parameters, additional consumer search dominates the loss in retail markups, so a profit-maximizing land developer would rent mall space to both store types. (C) 2003 Elsevier Science (USA). All rights reserved.
Keywords:
LOCATION
COMPETITION
CONSUMERS
ECONOMIES
SEARCH
MODEL

Journal

Journal of Urban Economics cover
Journal of Urban Economics
IF:
4.8
Papers:
2.2K
Citations:
7.3K

Organization

No organization information available