Recently, we have experienced an emergence of comparative "Internet Shopping Agents" (ISAs) that allow consumers to costlessly search across many online retailers and buy at the lowest price. An ISA can be thought of as an institution that creates all or nothing type of competition in the...

This paper examines the phenomenon of profit-increasing consumer exit and the related phenomenon of profit-decreasing consumer entry. We demonstrate that firms can be better off in shrinking markets and worse off in growing markets, even in the absence of competitive entry or exit. Specifically,...

Research examining the process of individual decision making over time is briefly reviewed. We focus on two major areas of work in choice dynamics: research that has examined how current choices are influenced by the history of previous choices, and newer work examining how choices may be made...