Menu
×
Main Library
9 a.m. - 8 p.m.
Phone: (843) 805-6930
West Ashley Library
9 a.m. – 7 p.m.
Phone: (843) 766-6635
Folly Beach Library
Closed for renovations
Phone: (843) 588-2001
John L. Dart Library
9 a.m. – 7 p.m.
Phone: (843) 722-7550
St. Paul's/Hollywood Library
9 a.m. - 8 p.m.
Phone: (843) 889-3300
Mt. Pleasant Library
9 a.m. – 8 p.m.
Phone: (843) 849-6161
Dorchester Road Library
9 a.m. - 8 p.m.
Phone: (843) 552-6466
Edgar Allan Poe/Sullivan's Island Library
9 a.m. - 6 p.m.
Phone: (843) 883-3914
John's Island Library
9 a.m. – 8 p.m.
Phone: (843) 559-1945
McClellanville Library
Closed for renovations
Phone: (843) 887-3699
Edisto Library
9 a.m. - 6 p.m.
Phone: (843) 869-2355
Wando Mount Pleasant Library
9 a.m. - 8 p.m.
Phone: (843) 805-6888
Otranto Road Library
9 a.m. - 8 p.m.
Phone: (843) 572-4094
Hurd/St. Andrews Library
9 a.m. - 8 p.m.
Phone: (843) 766-2546
Baxter-Patrick James Island
9 p.m. - 8 p.m.
Phone: (843) 795-6679
Bees Ferry West Ashley Library
9 a.m. - 8 p.m.
Phone: (843) 805-6892
Village Library
9 a.m. - 6 p.m.
Phone: (843) 884-9741
Keith Summey North Charleston Library
9 a.m. – 8 p.m.
Phone: (843) 744-2489
Mobile Library
9 a.m. - 5 p.m.
Phone: (843) 805-6909
Today's Hours
Main Library
9 a.m. - 8 p.m.
Phone: (843) 805-6930
West Ashley Library
9 a.m. – 7 p.m.
Phone: (843) 766-6635
Folly Beach Library
Closed for renovations
Phone: (843) 588-2001
John L. Dart Library
9 a.m. – 7 p.m.
Phone: (843) 722-7550
St. Paul's/Hollywood Library
9 a.m. - 8 p.m.
Phone: (843) 889-3300
Mt. Pleasant Library
9 a.m. – 8 p.m.
Phone: (843) 849-6161
Dorchester Road Library
9 a.m. - 8 p.m.
Phone: (843) 552-6466
Edgar Allan Poe/Sullivan's Island Library
9 a.m. - 6 p.m.
Phone: (843) 883-3914
John's Island Library
9 a.m. – 8 p.m.
Phone: (843) 559-1945
McClellanville Library
Closed for renovations
Phone: (843) 887-3699
Edisto Library
9 a.m. - 6 p.m.
Phone: (843) 869-2355
Wando Mount Pleasant Library
9 a.m. - 8 p.m.
Phone: (843) 805-6888
Otranto Road Library
9 a.m. - 8 p.m.
Phone: (843) 572-4094
Hurd/St. Andrews Library
9 a.m. - 8 p.m.
Phone: (843) 766-2546
Baxter-Patrick James Island
9 p.m. - 8 p.m.
Phone: (843) 795-6679
Bees Ferry West Ashley Library
9 a.m. - 8 p.m.
Phone: (843) 805-6892
Village Library
9 a.m. - 6 p.m.
Phone: (843) 884-9741
Keith Summey North Charleston Library
9 a.m. – 8 p.m.
Phone: (843) 744-2489
Mobile Library
9 a.m. - 5 p.m.
Phone: (843) 805-6909
Patron Login
menu
Item request has been placed!
×
Item request cannot be made.
×
Processing Request
The Importance of Price Beliefs in Consumer Search.
Item request has been placed!
×
Item request cannot be made.
×
Processing Request
- Author(s): Jindal, Pranav; Aribarg, Anocha
- Source:
Journal of Marketing Research (JMR); Apr2021, Vol. 58 Issue 2, p321-342, 22p, 1 Diagram, 3 Charts, 8 Graphs- Subject Terms:
- Source:
- Additional Information
- Abstract: A consumer's decision to engage in search depends on the beliefs the consumer has about an unknown product characteristic (e.g., price). Because beliefs are rarely observed, researchers typically assume that consumers have rational expectations or update beliefs consistent with Bayesian updating. These assumptions are restrictive and do not enable the researcher or the retailer to price discriminate among consumers on the basis of heterogeneity in beliefs. The authors use Monte Carlo experiments to show how these assumptions affect estimates of search cost. Next, they design an incentive-aligned online study in which participants search over the price of a homogeneous good, and the authors elicit distributions of price beliefs before and after each search. Drawing on data collected from a nationally representative panel, they find substantial heterogeneity in prior price beliefs, such that participants update their beliefs in response to search outcomes but deviate from Bayesian updating in that they underreact to new information. Importantly, the authors show that (1) assuming Bayesian updating does not significantly bias search cost estimates at the aggregate level if the researcher accounts for heterogeneous prior beliefs, (2) eliciting heterogeneity in prior expected prices is much more important than eliciting heterogeneity in prior price uncertainty, and (3) a retailer can increase profits through third-degree price discrimination by recognizing the heterogeneity in prior beliefs. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Journal of Marketing Research (JMR) is the property of American Marketing Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Abstract:
Contact CCPL
Copyright 2022 Charleston County Public Library Powered By EBSCO Stacks 3.3.0 [350.3] | Staff Login
No Comments.