| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10487 |
| DP10487 Consumer Search and Prices in the Automobile Market | |
| José-Luis Moraga-González; Matthijs Wildenbeest; Zsolt Sándor | |
| 发表日期 | 2015-03-15 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | 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 choose which products to search; then, once they learn the utility they get from the searched products, they choose which product to buy, if any. The set of products searched is endogenous and consumer specific. Therefore imperfect substitutability across products does not only arise from variation in their characteristics but also from variation in the costs of searching them. We apply the model to the automobile industry. Our search cost estimate is highly significant and indicates that consumers conduct a limited amount of search. Estimates of own- and cross-price elasticities are lower and markups are higher than if we assume consumers have full information. |
| 主题 | Industrial Organization |
| 关键词 | Automobiles Consumer search Demand and supply Differentiated products |
| URL | https://cepr.org/publications/dp10487 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539319 |
| 推荐引用方式 GB/T 7714 | José-Luis Moraga-González,Matthijs Wildenbeest,Zsolt Sándor. DP10487 Consumer Search and Prices in the Automobile Market. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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