In decisions involving many alternatives, such as residential choice, individuals conduct a two-stage decision process, consisting of eliminating non-viable alternatives and choice from the retained choice set. In light of the potential of semi-compensatory discrete choice models to...

A simulated maximum likelihood (SML) estimator for the random coefficient logit model using aggregate data is found to be more efficient than the widely used generalized method of moments estimator (GMM) of Berry et al. (Econometrica 63:841–890, <CitationRef CitationID="CR4">1995</CitationRef>). In particular, the SML estimator is...</citationref>

Price dispersion among commodity goods is typically attributed to consumer search costs. We explore the magnitude of consumer search costs using a data set obtained from a major Internet shopbot. For the median consumer, the benefits to searching lower screens are $2.24 while the cost of an...