Price Uncertainty and Consumer Search: A Structural Model of Consideration Set Formation

By Nitin Mehta, Surendra Rajiv, Kannan Srinivasan. 2003

396 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Marketing

View Paper: https://www.semanticscholar.org/paper/e09d08494287fb613f8fcfe24953e31f5876d1f5

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Citations in the corpus

Retrieving Unobserved Consideration Sets from Household Panel Data (2005, methodology): “To sample ρ we use the Metropolis-Hastings sampler of Metropolis et al. (1953) and Hastings (1970). The Metropolis-Hastings sampler amounts to sampling a candidate ρ draw from a target distribution in a first step and accept or reject this candidate in a second step based on a draw from a uniform di”
Communication Strategies and Product Line Design (2004, background): “For evidence that consumers do not consider buying all products available, and that there may be substantial heterogeneity in the products being considered see, for example, Newman and Staelin (1972) and Mehta et al. (2003).”
Smart Shopping Carts: How Real-Time Feedback Influences Spending (2013, positive): “Building on the in-store tracking behavior literature that bridges budgeting (Du and Kamakura 2008), spending (Mehta, Rajiv, and Srinivasan 2003), and in-store decisionmaking theories (Bell and Lattin 1998), this research aims to increase understanding of how real-time spending feedback influences…”
LIMITED INFORMATION AND ADVERTISING IN THE U.S. PERSONAL COMPUTER INDUSTRY (2008, background): “27See Milgrom and Roberts (1986). 28Berry (1994) was the rst to discuss the implementation of instrumental variables methods to correct for endogeneity between unobserved characteristics and prices.”
A Choice Model with Conjunctive, Disjunctive, and Compensatory Screening Rules (2004, background): “Shocker et al. (1991, p. 183) define consideration sets as being “purposefully constructed and can be viewed as consisting of those goal-satisfying alternatives salient or accessible on a particular occasion.” Hence, consideration sets are linked to usage occasion. Alternatively, Hauser and Wernerfe”
The impact of search costs on consumer behavior: A dynamic approach (2013, methodology): “This is very similar to the optimal stopping point problem in replacement models for durable goods (for example Melnikov (2001), Gowrisankaran and Rysman (2007) or Schiraldi (2009)).”
Consumer Sequential Search: Not Enough or Too Much? (2003, background): “consideration set formation, see Mehta et al. (2003) and Wu and”
Online Demand Under Limited Consumer Search (2010, neutral): “search j,k = %search frequency change in k %price change for j (27)”
Payment card rewards programs and consumer payment choice (2010, neutral): “Previous literature has used panel data and made strong assumptions about the process of choice set formation in order to take choice set heterogeneity into account (e.g., Bronnenberg and Vanhonacker, 1996; Mehta et al., 2003).”
Consumer Learning, Brand Loyalty, and Competition (2004, background): “Mehta et al. (2003) present evidence that good consumption experiences with one product may lead consumers to put that product in their consideration set, which may lead to more likely future purchases.”