The housing market exhibits a puzzling yet repetitive seasonal boom and bust cycle where prices and trade volume rise … in summers and fall in winters. This paper presents a search model that analytically generates the observed deterministic …

The internet has not only reduced consumer search costs, but has also enabled more efficient and sophisticated search … procedures. For example, online consumers can streamline their search process if appropriately defined categories of products and … services are available. This paper proposes a search model with product categories where consumers choose which categories to …

costs of search with its marginal benefit. The consumer can maximize the utility of his consumption-leisure choice with … regard to the equality of marginal values of search. Therefore, the satisficing decision procedure results in the optimizing …

equalizes marginal costs of search with its marginal benefits. The implicit optimal choice results in the explicit satisficing …

The synthesis of the G.Sigler’s rule of the optimal search with the classical individual labor supply model enlarges … the understanding of the phenomenon of money flexibility. The constraints of the search model makes the Lagrangian …

When expected savings on purchases are greater than the wage rate, the optimal search results in the negative marginal … utility of leisure. The search transforms the classical backward bending effect and the leisure becomes complementary to the … search. Consumers compensate “bad” leisure by status goods of exceptional quality on markets with high price dispersion …

costs of search with its marginal benefit. The consumer can maximize the utility of his consumption-leisure choice with … regard to the equality of marginal values of search. Therefore, the satisficing decision procedure results in the optimizing …

Firms simultaneously set prices in a homogeneous-product market where uninformed consumers search for price information …. Some uninformed consumers are local searchers who visit only one seller, possibly due to high search costs or bounded … rationality; whereas others search sequentially with an optimal reservation price. Equilibrium prices may follow a mixture …

available in the market. In a market with costly consumer search, we find that imposing a cap on suppliers' prices reduces the … incentive to engage in search, with the result that prices paid by consumers (both informed and uninformed) may rise. In a …