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Willingness to overpay for insurance and for consumer credit: search and risk behavior under price dispersion
Malakhov, Sergey - Volkswirtschaftliche Fakultät, … - 2014
credit. The optimal consumer decision represents the trade-off between the propensity to search for beneficial insurance or … consumer credit, and marginal savings on insurance policy or consumer credit. Under price dispersion the indirect utility … insurance or the complete consumer credit. The comparative static analysis of the saddle point of the utility function discovers …
Persistent link: https://www.econbiz.de/10011267888
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Willingness to Overpay for Insurance and for Consumer Credit: Search and Risk Behavior Under Price Dispersion
MALAKHOV, Sergey - In: Expert Journal of Economics 2 (2014) 3, pp. 109-119
credit. The optimal consumer decision represents the trade-off between the propensity to search for beneficial insurance or … consumer credit, and marginal savings on insurance policy or consumer credit. Under price dispersion the indirect utility … insurance or the complete consumer credit. The comparative static analysis of the saddle point of the utility function discovers …
Persistent link: https://www.econbiz.de/10011183026
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Consumer search behavior and willingness to pay for insurance under price dispersion
Malakhov, Sergey - Volkswirtschaftliche Fakultät, … - 2014
presented as the increase in the willingness to pay for insurance. The optimal consumer decision represents the trade …-off between the propensity to search for proficient insurance and marginal savings on insurance policy. Under price dispersion the … indirect utility function takes the form of cubic parabola, where the saddle point represents the comprehensive insurance. The …
Persistent link: https://www.econbiz.de/10011114358
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Choice by Iterative Search
Masatlioglu, Yusufcan - 2009
In many real-life decisions, either information about alternatives is missing, or decision makers have limited cognitive capacity to go through all alternatives. To capture these situations, we propose and axiomatically characterize a new descriptive search model in which a decision maker...
Persistent link: https://www.econbiz.de/10013160298
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Choice by iterative search
Masatlioglu, Yusufcan; Nakajima, Daisuke - In: Theoretical economics : TE ; an open access journal in … 8 (2013) 3, pp. 701-728
When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to 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...
Persistent link: https://www.econbiz.de/10011685228
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Search, Memory, and Choice : An Experiment
Sanjurjo, Adam - 2014
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. Search behavior in these environments has recently been found to deviate systematically and substantially from optimal sequential...
Persistent link: https://www.econbiz.de/10014143757
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Saving rates and portfolio choice with subsistence consumption
Achury, Carolina; Hubar, Sylwia; Koulovatianos, Christos - 2011
We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...
Persistent link: https://www.econbiz.de/10008856389
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Nonlinear prices, homogeneous goods, search
Atayev, Atabek - 2021
We analyze competition on nonlinear prices in homogeneous goods markets with consumer search. In equilibrium firms offer two-part tariffs consisting of a linear price and lump-sum fee. The equilibrium production is socially efficient as the linear price of equilibrium two-part tariffs equals to...
Persistent link: https://www.econbiz.de/10012672138
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Consumer search and stock-out : a laboratory experiment
Kittaka, Yuta; Mikami, Ryo - 2020
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/10012291229
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Dynamic pricing with search frictions
García, Daniel - 2017
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