Determinants for Search of Lower Prices: An Empirical Assessment of the Economics of Information Theory

1 December 1978

journal article
Published by Oxford University Press (OUP) in Journal of Consumer Research

Vol. 5 (3) , 176-186
https://doi.org/10.1086/208729

Abstract

The usefulness of the economics of information framework for the explanation of consumer search behavior is assessed. Various hypotheses regarding search behavior are tested using panel data on gasoline purchases. It is shown that relatively little of the behavior can be explained by the economics of information framework.

Keywords

EXPLANATION
GASOLINE
PURCHASES
PRICES
SEARCH BEHAVIOR
INFORMATION FRAMEWORK
ECONOMICS OF INFORMATION

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