Search with Learning and Price Adjustment Dynamics
构建了一个消费者搜索与学习模型，分析成本冲击对价格的短期和长期影响，发现消费者混淆成本类型会导致搜索行为偏差，进而影响价格调整幅度。
We present a model of consumer search with learning in which cost shocks have different short- and long-range effects on prices. In the short run, consumers confuse general cost shocks, common to all firms in the industry, with firm-specific shocks. In the case of a general cost increase, this promotes an excessive propensity to search, restraining the amount by which prices increase in the short run. Conversely, in the case of an idiosyncratic cost increase, consumers search too little, causing the prices of high-cost firms to overshoot.