– persistence despite failures – to ensure broad search for good solutions. Using an agent-based simulation model, I show that the … link between patience and innovation is complex: Moderate levels of patience promote broad and effective search. High … search. Furthermore, because translating the gains of patience into performance improvements requires time, low levels of …

This paper develops a dynamic model of consumer search that, despite placing very little structure on the dynamic … problem faced by consumers, allows us to exploit intertemporal variation in within-period price and search cost distributions … to estimate the population distribution from which consumers' search costs are initially drawn. We show that static …

of efficiency gains, namely lower search costs, better matching, and more intense product market price-competition.  A … monopolistic search engine charges advertisers too high a price, and has incentives to provide a suboptimal matching quality …Search engines enable advertisers to target consumers based on the query they have entered.  In a framework with …

presence of savvy consumers improves the deals available to non-savvy consumers in the market (the case of search externalities …

consumers search for satisfactory deals. In the pre-merger symmetricequilibrium, the probability that a firm is the next one to … when they do not find any product satisfactory enough, they continue searching atthe merging stores. When search costs are … sizable search economies. Such demand-side economies can conferthe merging firms a prominent position in the marketplace, in …

The search literature assumes that consumers know which firms sell products they are looking for, but are unaware of … the basic fact that they sell the product. In this way, advertising lowers the expected search cost. We show that this …

We model the idea that when consumers search for products, they first visit the firm whose advertising is more salient …. The gains a firm derives from being visited early increase in search costs, so equilibrium advertising increases as search … costs rise. This may result in lower firm profits when search costs increase. We extend the basic model by allowing for firm …