@article{oai:nagoya.repo.nii.ac.jp:00010142,
 author = {MINAGAWA, Tadashi and KAWAI, Shin},
 issue = {145},
 journal = {Economic Research Center Discussion Paper},
 month = {Aug},
 note = {This paper explains price movements countercyclical to business cycles in an atomistic market. A recession makes a portion of low-income consumers leave the market and the fraction of low-price stores decreases. Thus, the remaining consumers' reservation prices for storage increase and consequently low-price stores charge higher prices, and vice versa. It is also shown that the equilibrium is characterized as a symmetric mixed strategy Nash equilibrium.},
 title = {CYCLICAL PRICE MOVEMENTS IN AN ATOMISTIC MARKET},
 year = {2003}
}