For many new products or products with multiple attributes, learning the price is often easier than learning one's willingness to pay. We model a market in which consumers face a transportation cost to discover a seller's price, and then have the option to pay a learning cost to discover the...

A consumer with unit demand sequentially visits sellers of competing products for which her private values are uncertain. She can learn each value at a cost or purchase any of the products without learning. Each seller optimally sets either a "regular" price which induces a visiting consumer to...