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On Probabilistic Models of Consumer Search for Information

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  • Joseph L. Gastwirth

Abstract

I. Introduction, 38. — II. Review and development of Stigler's original model, 39. — III. The effect of dependence among the prices offered, 44. — IV. The sequential rule for Stigler's model, 45. — V. Implications and comments, 49.

Suggested Citation

  • Joseph L. Gastwirth, 1976. "On Probabilistic Models of Consumer Search for Information," The Quarterly Journal of Economics, Oxford University Press, vol. 90(1), pages 38-50.
  • Handle: RePEc:oup:qjecon:v:90:y:1976:i:1:p:38-50.
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    File URL: http://hdl.handle.net/10.2307/1886085
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    Citations

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    Cited by:

    1. Ed Hopkins, "undated". "Price Dispersion: An Evolutionary Approach," Discussion Papers 1996-3, Edinburgh School of Economics, University of Edinburgh.
    2. Emanuele Deligia, 2006. "Innovation And Finance: The Theoretical Links," Economia, Societa', e Istituzioni, Dipartimento di Economia e Finanza, LUISS Guido Carli, vol. 0(1).
    3. Kirman, Alan & Schulz, Rainer & Hardle, Wolfgang & Werwatz, Axel, 2005. "Transactions that did not happen and their influence on prices," Journal of Economic Behavior & Organization, Elsevier, vol. 56(4), pages 567-591, April.
    4. Rauh, Michael T., 1997. "A Model of Temporary Search Market Equilibrium," Journal of Economic Theory, Elsevier, vol. 77(1), pages 128-153, November.
    5. repec:spr:jstada:v:4:y:2017:i:1:d:10.1186_s40488-017-0067-2 is not listed on IDEAS
    6. Paul L. Joskow & Roger G. Noll, 1981. "Regulation in Theory and Practice: An Overview," NBER Chapters,in: Studies in Public Regulation, pages 1-78 National Bureau of Economic Research, Inc.
    7. D.J. Butler & G. Loomes, 1992. "Procedural Rationality in Consumer Search: An experimental investigation," Economics Discussion / Working Papers 92-14, The University of Western Australia, Department of Economics.
    8. Babur De los Santos & Ali Hortacsu & Matthijs R. Wildenbeest, 2012. "Search with Learning," Working Papers 2012-03, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    9. Cason, Timothy N. & Friedman, Daniel, 2003. "Buyer search and price dispersion: a laboratory study," Journal of Economic Theory, Elsevier, vol. 112(2), pages 232-260, October.
    10. Choi, Jin Wook, 1982. "An analysis of price responses to public information: a case study of the USDA corn crop forecasts," ISU General Staff Papers 198201010800008030, Iowa State University, Department of Economics.
    11. Mark A. Satterthwaite, 1977. "The Effect of Increased Supply on Equilibrium Price : A Theory for the Strange Case of Physicians' Services," Discussion Papers 294, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

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