I consider a retailer who sells a new product over two periods: advance and regular selling seasons. Experienced consumers learn their valuations for the product in the advance selling season, while inexperienced consumers learn only when the product becomes available in the regular selling...

Goods sold by electronic firms are not perfect substitutes for otherwise identical goods sold by their offline counterparts. Online purchases are associated with waiting costs, and they do not allow consumers to inspect the product prior to purchase. Visiting a conventional retailer, on the...