Selective bargain hunting: A concise test of rational consumer search
研究消费者如何在工作、休闲和价格搜索之间分配时间，发现消费者对偏好商品支付更低价格，验证了理性搜索行为。
Abstract 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.