000			01224nam a22001577a 4500
999			_c517626 _d517626
008			210722b ||||| |||| 00| 0 eng d
100			_aCoey, Dominic Larsen, Bradley J. and Platt, Breannan C. _927560
245			_aDiscounts and deadlines in consumer search
260			_aThe American Economic Review
300			_a110(12), Dec, 2020: p.3748-3785
520			_aWe present a new equilibrium search model where consumers initially search among discount opportunities, but are willing to pay more as a deadline approaches, eventually turning to full-price sellers. The model predicts equilibrium price dispersion and rationalizes discount and full-price sellers coexisting without relying on ex ante heterogeneity. We apply the model to online retail sales via auctions and posted prices, where failed attempts to purchase reveal consumers' reservation prices. We find robust evidence supporting the theory. We quantify dynamic search frictions arising from deadlines and show how, with deadline-constrained buyers, seemingly neutral platform fee increases can cause large market shifts. – Reproduced
650			_aConsumption _927561
773			_aThe American Economic Review
906			_aCONSUMERS
942			_cAR