The Internet has dramatically reduced search costs for customers through tools such as shopbots. The conventional wisdom is that this reduction in search costs will increase price competition leading to a decline in prices and profits for online firms. In this paper, we provide an argument for...

The Internet has dramatically reduced search costs for customers through tools such as shopbots. The conventional wisdom is that this reduction in search costs will increase price competition leading to a decline in prices and profits for online firms. In this paper, we provide an argument for...

The Internet has dramatically reduced search costs for customers through tools such as shopbots. The conventional wisdom is that this reduction in search costs will increase price competition leading to a decline in prices and profits for online firms. In this paper, we provide an argument for...