Selective bargain hunting: A concise test of rational consumer search

被引：0

作者：

Lee, Chloe ^{[1
]}

Long, Wen ^{[2
]}

Luengo-Prado, Maria J. ^{[3
]}

Sorensen, Bent E. ^{[4
,5
]}

机构：

[1] Univ Calif Berkeley, Sch Informat, Berkeley, CA USA

[2] Barclays Serv Corp, New York, NY USA

[3] Fed Reserve Bank Boston, 600 Atlantic Ave, Boston, MA 02210 USA

[4] Univ Houston, Dept Econ, Houston, TX USA

[5] Ctr Econ Policy Res, London, England

来源：

ECONOMIC INQUIRY | 2021年 / 59卷 / 03期

关键词：

bargain hunting; consumer search; consumption; rational inattention; time use; PRICES; TIME; ALLOCATION; SALES; CYCLE;

D O I：

10.1111/ecin.12970

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

A model of time-allocation among work, leisure, and price-search predicts that rational consumers pay relatively low prices for their preferred goods. Using scanner data, we confirm empirically the implication that consumers find better prices for items (defined by scanner codes, such as a 12-pack of Pepsi) within categories (such as carbonated drinks) of which they consume relatively more. This provides direct evidence that consumers face constraints on time and/or attention, and that they rationally allocate these scarce resources to optimize welfare.

引用

页码：1089 / 1105

页数：17