Switching Costs or Search Costs?
AbstractOne of the most significant and robust characteristics of decision making is persistence. An example of this is brand loyalty -- the repeat purchase of new products of the same brand. This paper attempts to show that previous explanations of this phenomenon (switching costs, habit and unobserved heterogeneity) are incomplete, and presents another explanation, namely that individuals possess asymmetric information about their alternatives and are faced with search costs.
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Bibliographic InfoPaper provided by Tel Aviv in its series Papers with number 3-2000.
Length: 37 pages
Date of creation: 2000
Date of revision:
Contact details of provider:
Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.
Web page: http://econ.tau.ac.il/research/foerder.asp
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ASYMETRIC INFORMATION ; COSTS ; ECONOMIC MODELS ; CONSUMPTION ; BEHAVIOUR;
Find related papers by JEL classification:
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- L00 - Industrial Organization - - General - - - General
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- Waterson, Michael, 2003.
"The role of consumers in competition and competition policy,"
International Journal of Industrial Organization,
Elsevier, vol. 21(2), pages 129-150, February.
- Waterson, Michael, 2001. "The role of consumers in competition and competition policy," The Warwick Economics Research Paper Series (TWERPS) 607, University of Warwick, Department of Economics.
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