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The sequential search model : a framework for empirical research

Raluca Ursu, Stephan Seiler, Elisabeth Honka
We provide a detailed overview of the empirical implementation of the sequential search model proposed by Weitzman (1979). We discuss the assumptions underlying the model, the identifica-tion of search cost and preference parameters, the necessary normalizations of utility parameters, counterfactuals that require a search model framework, and different estimation approaches. The goal of this paper is to consolidate knowledge and provide a unified treatment of various aspects of sequential search models that are relevant for empirical work.
Year of publication:
February 2023
Authors: Ursu, Raluca ; Seiler, Stephan ; Honka, Elisabeth
Publisher: Munich, Germany : CESifo
Subject: sequential search model | Suchtheorie | Search theory
freely available
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