In many markets consumers have imperfect information about the utility they derive from the products that are on offer and need to visit stores to find the product that is the most preferred. This paper develops a discrete-choice model of demand with optimal consumer search. Consumers first...

The automobile industry is one of the fastest growing sectors of the world. India is the fourth largest exporter of passenger car and 6th largest producer in the world. A number of leading global automotive companies entered with the joint ventures and started producing the variety of models...