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 search behaviour is nonstationary and, moreover, the reservation price is not …

analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the … idea of consideration sets. Consumers engage in a dynamic search process. At each stage, they consider only those options … identify both search paths and preferences. …

analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the … idea of consideration sets. Consumers engage in a dynamic search process. At each stage, they consider only those options … identify both search paths and preferences. …