Comment on “Reducing Buyer Search Costs: Implications for Electronic Marketplaces”

Abstract

Introduction One of the most crucial distinctions between elec- tronic retailing and conventional retailing concerns consumer search. It would seem obvious that, at least for some types of information, searching is less costly when it is among online sellers. More interesting, perhaps, is the difference in the structure of search costs and what its implications might be for competition among online sellers. In one of the first papers to explore this issue, Bakes (1997) considers a model of search in a market with differentiated products. One of the more innovative features of his model is to allow for separate costs of searching over price and product characteristics: The ability to separate the search costs for price and product information is particularly interesting in the context of an electronic marketplace. These systems are unique in their ability to separately influence the search costs for price and product information through appropriate choices in system design. (Bako

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