"Shop-Till-You-Drop Specials, Revealed Here First"
by Michael Barbaro, with contributions from Cindy Chang

Source: New York Times, November 17, 2005
http://select.nytimes.com/search/restricted/article?res=F20C11FA3A5A0C748DDDA80994DD404482

             In the box on "More Perfect Knowledge," on page 521 of Chapter 21, the text points out that the Internet has improved the ability of consumers to make price comparisons. Technology, then, is making markets more competitive. This article—about a college freshman whose web site leaks information about "Black Friday" (the day after Thanksgiving) sales—illustrates this trend. Some of the big retailers appreciate the free publicity, but others would prefer to keep their prices secret until they send out the sale flyers.

• Why might some retailers object to releasing information about their prices in advance of the sale?
• Can you think of other examples of information on prices and quality that you can obtain from the Internet?
• Explain why perfect information is essential for perfect competition.