Most previous studies in price dispersion literature consider only the dispersion of post price. We build a model combining price dispersion with the associated sales, incorporating the dynamic update of online reputation in an Internet market. We identify buyer informativeness, which measures...

Consumers are often uncertain about their product valuation before purchase. They may bear the uncertainty and purchase the product without deliberation. Alternatively, consumers can incur a deliberation cost to nd out their true valuation and then make their purchase decision. This paper...