Limited price information and miscoordination reduce buyer surplus in markets with capacity-constrained sellers. In an experiment, I study the effects of facilitating buyer coordination through communication and increasing the availability of price information. Improved coordination leads to an increase in trade and, under full price information, in prices. Whereas sellers benefit, buyers suffer more from the increase in prices than they benefit from the increase in trade. The impact of better price information depends on the presence of communication: with communication, an additional informed buyer induces sellers to raise their prices, yet without communication, one additional informed buyer provokes a price decrease.

中文翻译：

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容量受限市场中价格信息和沟通的影响：一项实验

有限的价格信息和协调不当会减少卖方容量受限市场中的买方剩余。在一个实验中，我研究了通过沟通促进买家协调和增加价格信息的可用性的效果。改进协调会导致贸易增加，在完全价格信息下，价格也会增加。卖方受益，而买方因价格上涨而受害比从贸易增长中受益的要多。更好的价格信息的影响取决于沟通的存在：通过沟通，一个额外的知情买家促使卖家提高价格，但没有沟通，一个额外的知情买家会引起价格下降。