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| Author: | Mehta, N. Rajiv, S. Srinivasan, K. |
| Title: | Price uncertainty and consumer search: a structural model of consideration set formation |
| Journal: | Marketing Science
2003 : WINTER, VOL. 22:1, p. 58-84 |
| Index terms: | Brands Consumer behaviour Prices Sets Uncertainty |
| Language: | eng |
| Abstract: | The authors offer an econometric framework that models consumer's consideration set formation as an outcome of her costly information search behavior. Because frequently purchased products are characterized by frequent price promotions of varying depths of discounts, a consumer faces significant uncertainty about the prices of the brands. The consumers engage in a fixed-sample search strategy that results in their discovering the posted prices of a subset of the available brands. This subset is referred to a the consumer's "consideration set". |
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