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Consumer Behavior and Belated Information: The Case of Uncertain Tastes

Wilde, Louis L. (1983) Consumer Behavior and Belated Information: The Case of Uncertain Tastes. Social Science Working Paper, 478. California Institute of Technology , Pasadena, CA. (Unpublished)

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This paper analyzes optimal search and consumption strategies for consumers with respect to goods for which tastes are unknown prior to actual consumption of the good. The form of an optimal strategy is characterized and certain comparative statics results derived. Of particular interest is the possibility that an increase in search costs might actually increase pre-initial purchase search.

Item Type:Report or Paper (Working Paper)
Additional Information:This research was supported by NSF Grant No. SES81-17708.
Group:Social Science Working Papers
Funding AgencyGrant Number
Series Name:Social Science Working Paper
Issue or Number:478
Record Number:CaltechAUTHORS:20170922-133655542
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:81750
Deposited By: Jacquelyn Bussone
Deposited On:25 Sep 2017 22:58
Last Modified:03 Oct 2019 18:46

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