Although it is widely held that sellers prefer to appear early in a consumer's search, some evidence from online markets suggests this need not be the case. We develop a model which incorporates costly search and costly recall and demonstrate that when both frictions are small, appearing later...

A consumer with unit demand sequentially visits sellers of competing products for which her private values are uncertain. She can learn each value at a cost or purchase any of the products without learning. Each seller optimally sets either a "regular" price which induces a visiting consumer to...