This paper reports the results of theoretical and experimental analyses of search models of shopping behavior. Earlier work which dealt with markets for homogeneous goods in which sellers first determined their prices and buyers then decided upon their information acquisition (shopping)...

Twelve markets were studied. All markets had downward sloping supply functions created by Marshallian-type external economies in which the costs of individual firms increase with their own volume but decrease with the market volume of all other firms. The conditions were such that the model...