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The impact of search costs on consumer behavior: A dynamic approach

机译：搜索成本对消费者行为的影响：动态方法

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Prices for grocery items differ across stores and time because of promotion periods. Consumers therefore have an incentive to search for the lowest prices. However, when a product is purchased infrequently, the effort to check the price every shopping trip might outweigh the benefit of spending less. I propose a structural model for storable goods that takes into account inventory holdings and search. The model is estimated using data on laundry detergent purchases. I find search costs play a large role in explaining purchase behavior, with consumers unaware of the price of detergent on 70 % of their shopping trips. Therefore, from the retailer's point of view raising awareness of a promotion through advertising and displays is important. I also find a promotion for a particular product increases the consumer's incentive to search. This change in incentives leads to an increase in category traffic, which from the store manager's perspective is a desirable side effect of the promotion.
机译：由于促销期不同，杂货的价格因商店和时间而异。因此，消费者有寻找最低价格的动机。但是，当不经常购买产品时，检查每次购物行程价格的努力可能会超过减少支出的好处。我提出了一种可存储商品的结构模型，该模型考虑了库存量和搜索量。该模型是使用有关购买洗涤剂的数据估算的。我发现搜索成本在解释购买行为方面起着很大的作用，因为消费者不了解70％的购物行程中洗涤剂的价格。因此，从零售商的角度来看，通过广告和展示来提高促销意识是很重要的。我还发现对特定产品的促销会增加消费者的搜索动机。激励措施的这种变化导致类别访问量的增加，从商店经理的角度来看，这是促销的理想副作用。

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