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This paper provides a method to estimate search costs in an environment in which consumers are uncertain about the price distribution. Consumers learn about the price distribution by Bayesian updating their prior beliefs. The model provides bounds on the search costs that can rationalize...
Persistent link: https://www.econbiz.de/10011096405
This chapter provides a data-driven overview of the different online platforms that consumers use to search for books and booksellers, and documents how the use of these platforms is shifting over time. Our data suggest that, as a result of digitization, consumers are increasingly conducting...
Persistent link: https://www.econbiz.de/10011096389
The lion’s share of retail traffic through search engines originates from organic (natural) rather than sponsored (paid) links. We use a dataset constructed from over 12,000 search terms and 2 million users to identify drivers of the organic clicks that the top 759 retailers received from...
Persistent link: https://www.econbiz.de/10011096408
Organic product search results on Google and Bing do not systematically include information about seller characteristics (e.g., feedback ratings and prices). Consequently, it is often assumed that a retailer’s organic traffic is driven by the prominence of its position in the list of search...
Persistent link: https://www.econbiz.de/10011096410
Persistent link: https://www.econbiz.de/10009710851
Persistent link: https://www.econbiz.de/10011893862
Using a large data set on web browsing and purchasing behavior we test to what extent consumers are searching in accordance to various classical search models. We find that the benchmark model of sequential search with an a priori known distribution of prices can be rejected based on both the...
Persistent link: https://www.econbiz.de/10014046179
Using a large dataset on web browsing and purchasing behavior we test to what extent consumers are searching in accordance to various search models. We find that the benchmark model of sequential search with a known price distribution can be rejected based on recall patterns found in the data as...
Persistent link: https://www.econbiz.de/10010815548
Using a large data set on consumers' web browsing and purchasing behavior we contrast various classical search models. We find that the benchmark model of sequential search with a known distributions of prices can be rejected based on the recall patterns we observe in the data. Moreover, we show...
Persistent link: https://www.econbiz.de/10008479201
This paper provides a method to estimate search costs in a differentiated product environment in which consumers are uncertain about the utility distribution. Consumers learn about the utility distribution by Bayesian updating their Dirichlet process prior beliefs. The model provides expressions...
Persistent link: https://www.econbiz.de/10014039977