Dynamic consumer search
We consider a model in which consumers wish to buy a product repeatedly over time, but need to engage in costly search to learn prices and find a product that matches them well. The optimal search rule has two reservation values, one for newly-searched products, and another for products that were se...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
University of Oxford
2024
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