lowers prices for two distinct reasons. First, the Internet helps consumers learn the invoice price of …the Internet, also helps consumers obtain lower prices. The combined information and referral price …

.2% less than do offline consumers. After controlling for selection, we find that using Autobytel.com reduces the price a … have obtained a low price even in the absence of the Internet. Instead, our finding is consistent with consumers choosing …

inattention parameter implied by the price discontinuities. In addition, our results suggest that estimating consumer …