Flash sales refer to an emerging e-commerce practice in which a firm offers one or more products/service at a substantial discount within limited time. Macro-economic environment (residential areas), demographic (age, income and occupation) and ad media decision may collectively affect purchase...

We study the estimation of preference heterogeneity in markets where consumers engage in costly search to learn product characteristics. Costly search amplifies the way consumer preferences translate into purchase probabilities, generating a seemingly large degree of preference heterogeneity. We...