A model of information search is proposed which assumes that a consumer chooses the next piece of information so as to maximize his expected value of sample information. The cost of processing, the perceived correlation between attributes, and the perceived importance of attributes would all...

An algebraic model of the consumer information search process is described. The model is one which seeks to describe the nature of decision making during search, including how consumers form expectations with respect to sets of potential choice alternatives, decide which alternatives to “focus...