Theory and Applications of Consumer Search Models

The book "Theory and Applications of Consumer Search Models" by Ian McCarthy offers a comprehensive analysis of consumer research in the context of homogeneous goods markets. It highlights how competition and advertising influence consumer search behavior and the implications this has for consumer welfare. By applying various modeling techniques, including theoretical models and computer-based simulations, it develops a deep understanding of the dynamics of consumer search and the associated costs. Notably, the empirical investigation of search costs in the selection of health plans by Medicare beneficiaries is emphasized. This work is aimed at economists and researchers interested in applied consumer research and advertising.