Testing Models of Consumer Search Using Data on Web Browsing and Purchasing Behavior
利用网页浏览和购买行为的大数据集，检验消费者是否遵循不同搜索模型，发现固定样本量搜索比顺序搜索更符合实际，并据此估计在线书店的需求弹性。
Using a large dataset on web browsing and purchasing behavior we test to what extent consumers are searching in accordance to various search models. We find that the benchmark model of sequential search with a known price distribution can be rejected based on recall patterns found in the data as well as the absence of dependence of search decisions on prices. Our findings suggest fixed sample size search provides a more accurate description of search behavior. We then utilize the fixed sample size search model to estimate demand elasticities of online bookstores in an environment where store preferences are heterogeneous.