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Demand for Variety Under Costly Consumer Search: A Multi-Discrete/Continuous Approach

Abstract Consumers search before making virtually any purchase. The notion that consumers engage in costly search is well-understood to have deep implications for market performance. However to date, no theoretical model allows for the observation that consumers often purchase more than a single product in an individual shopping occasion. Clothing, food, books, and music are but four important examples of goods that are purchased many items at a time. I develop a modeling approach that accounts for multi-purchase occasions in a structural way. My model shows that as preference for variety increases, so does the size of the consideration set. Search models that ignore preference for variety are, therefore, likely to under-predict the number of produc... (more)
Created Date 2013
Contributor Allender, William (Author) / Richards, Timothy J (Advisor) / Park, Sungho (Committee member) / Hamilton, Stephen (Committee member) / Arizona State University (Publisher)
Subject Agriculture economics / Marketing / Consumer Search / Discrete Choice Models / Multiple Discrete-Continuous Purchases / Product Variety
Type Doctoral Dissertation
Extent 141 pages
Language English
Reuse Permissions All Rights Reserved
Note Ph.D. Business Administration 2013
Collaborating Institutions Graduate College / ASU Library
Additional Formats MODS / OAI Dublin Core / RIS

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Description Dissertation/Thesis