's beliefs, search costs and preferences. Learning plays an essential role in this strategy: it creates variation of posterior …

We study a sequential social learning model where agents privately acquire information by costly search. Search costs … of agents are private to them, and are independently and identically distributed. We show that asymptotic learning occurs … if and only if search costs are not bounded away from zero. We explicitly characterize the speed of learning for the case …

indicate that search costs are sizable. We show that wrongfully assuming consumers are not learning while searching can lead to …

two new attributes is found. The search paths emerging from this policy match recent evidence of consumer learning through …