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In this paper, we propose a method to visualize online consumer search in so-called product search maps. Manufacturers can use these maps to understand how consumers search for competing products prior to choice, including how information acquisition and product search is organized along brand-,...
Persistent link: https://www.econbiz.de/10003888144
We develop a probit choice model under optimal sequential search and apply it to the study of aggregate demand of consumer durable goods. In our joint model of search and choice, we derive a semi-closed form expression for the probability of choice that obeys the full set of restrictions imposed...
Persistent link: https://www.econbiz.de/10010250702