Consumer search and optimal information
研究了消费者在序贯搜索中如何设计信号结构以最大化消费者剩余，发现最优信号属于条件单位弹性需求分布，并推导了其性质与比较静态。
Abstract This article studies an information design problem in a sequential consumer search environment. Consumers, whose valuation of firms' products is uncertain, observe a noisy signal about the valuation upon being matched with a firm. The goal is to characterize those signal structures that maximize consumer surplus. We show that the consumer‐optimal signal structure can be found within the class of conditional unit‐elastic demand signal distributions. A rich set of properties and comparative statics of the consumer‐optimal signal distributions are also derived.