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An ad hoc exogeneous structure of beliefs (the observation map) is introduced into the simplest SMM where buyers and sellers are otherwise identical. A temporary equilibrium is defined to be a price profile that induces a distribution of price such that all agents make best responses against their beliefs. The existence of the equilibrium is proved, based on the results from \\textit{M. A. Khan} and \\textit{Y. Sun} [J. Math. Econ. 31, 455--492 (1999; Zbl 0940.91006] on the existence of pure-strategy equilibria in non-cooperative games and using a small amount of nonstandard analysis, see \\textit{N. J. Cutland} [Bull. Lond. Math. Soc. 15, 529--589 (1983; Zbl 0529.28009)].   An example is considered where the observation maps take a special function form, and it is shown that a price ceiling above marginal cost can reduce price dispersion and improve welfare without decreasing quantity supplied. 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