Arbeitspapier
On The Relevance Of Irrelevant Information
This paper analyses the role of information in the search process. Ibuild a simple model of a good with two random attributes with somejoint probability distribution. I consider seemingly unimportant changesin this distribution, i.e. changes which neither affect expected utility norits variance. These changes have a great impact on the search behaviour:the customer may start to search the characteristics and buy the goodeven if she did not do so before. The optimal search rule is derived andthe model is generalized to multiple objects.
- Language
-
Englisch
- Bibliographic citation
-
Series: Tinbergen Institute Discussion Paper ; No. 09-087/1
- Classification
-
Wirtschaft
Microeconomic Behavior: Underlying Principles
Information, Knowledge, and Uncertainty: General
- Subject
-
Search
Consumer Search
Value of Information
Konsumentenverhalten
Produktinformation
Informationswert
Suchtheorie
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Parakhonyak, Alexei
- Event
-
Veröffentlichung
- (who)
-
Tinbergen Institute
- (where)
-
Amsterdam and Rotterdam
- (when)
-
2009
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Parakhonyak, Alexei
- Tinbergen Institute
Time of origin
- 2009
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