effect. Too little information may not be enough to support consumers' purchasing decisions.

Nonsequential search

When consumers commit to purchasing from the lowest-cost store retailer after acquiring a random sample of l (> 1) costs. A per-price search cost customer selects the number of stores to solicit to minimize the total expected cost or the sum of the total search costs and the expected price for the product.

Sequential search

Unlike nonsequential-search, sequential buyers opt to buy at the

1.Previous
3.Next