Showing 1 - 10 of 504
This paper builds a consumer search model where the cost of going back to stores already searched is explicitly taken into account. We show that the optimal search rule under costly recall is very different from the optimal search rule under perfect recall. Under costly recall, the optimal...
Persistent link: https://www.econbiz.de/10010325692
I introduce a simple model of memory load in multiple attribute search and prove which types of search behavior require the least amount of memory load. The model is easily implementable and tracks choice error rates in the lab. The results on minimum memory load search can be used to explain a...
Persistent link: https://www.econbiz.de/10014143158
Multiple attribute search is a central feature of economic life: we consider much more than price when purchasing a home, and more than wage when choosing a job. Nevertheless, while single attribute search problems have been studied extensively, little is known about optimal search in multiple...
Persistent link: https://www.econbiz.de/10012973045
We investigate the overall impact of stock-out on individual consumers' information search behavior through both search-theoretic and experimental approaches. As the probability of stock-out increases, search intensity decreases, while the expected number of searches may increase. Such increases...
Persistent link: https://www.econbiz.de/10014031559
With few exceptions, today's retailers sell products across multiple categories. One strategic consideration of such retailers is product location, which determines how easy or difficult different categories are for customers to access. For example, grocery or department stores determine which...
Persistent link: https://www.econbiz.de/10012897420
Do the choices of consumers who search for a product's best price exhibit risk neutral, risk averse or loss averse risk attitudes? We study how in a problem of sequential search with costless recall the relation between a consumer's willingness to pay for continued search and the level of price...
Persistent link: https://www.econbiz.de/10011520488
This paper builds a consumer search model where the cost of going back to stores already searched is explicitly taken into account. We show that the optimal search rule under costly recall is very different from the optimal search rule under perfect recall. Under costly recall, the optimal...
Persistent link: https://www.econbiz.de/10011373816
We study markets for perishable goods with search frictions. Sellers have a single unit of a good and post prices in every period. Buyers engage in costly search to observe prices and match values. In equilibrium trade starts endogenously and the volume of trade increases over time. Under mild...
Persistent link: https://www.econbiz.de/10011761525
This study constructs a sequential consumer search model with differentiated products in which some consumers search for a single product while the others search for multiple products. When the mass of consumers who demand one of the products decreases, the price for one product decreases while...
Persistent link: https://www.econbiz.de/10011804803
Rapid technological developments in online markets fundamentally change the relationship between consumers and sellers. Online platforms can now easily gather data about the consumer and his search behavior, that allow for price discrimination. Therefore the consumers' product search becomes a...
Persistent link: https://www.econbiz.de/10012900926