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Switching Costs or Search Costs?

Author

Listed:
  • Moshkin, N.
  • Shachar, R.

Abstract

One 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.

Suggested Citation

  • Moshkin, N. & Shachar, R., 2000. "Switching Costs or Search Costs?," Papers 3-2000, Tel Aviv.
  • Handle: RePEc:fth:teavfo:3-2000
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    Citations

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    Cited by:

    1. Nickolay V. Moshkin & Ron Shachar, 2002. "The Asymmetric Information Model of State Dependence," Marketing Science, INFORMS, vol. 21(4), pages 435-454, August.
    2. 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.

    More about this item

    Keywords

    ASYMETRIC INFORMATION ; COSTS ; ECONOMIC MODELS ; CONSUMPTION ; BEHAVIOUR;

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • L00 - Industrial Organization - - General - - - General

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