The Sequential Search Model: A Framework for Empirical Research

42 Pages Posted: 15 Oct 2022

See all articles by Raluca Ursu

Raluca Ursu

New York University - Stern School of Business

Stephan Seiler

Imperial College Business School; Centre for Economic Policy Research

Elisabeth Honka

University of California, Los Angeles (UCLA) - Anderson School of Management

Date Written: October 3, 2022

Abstract

We provide a detailed overview of the empirical implementation of the sequential search model proposed by Weitzman (1979). We discuss the assumptions underlying the model, the identification of search cost and preference parameters, the necessary normalizations of utility parameters, counterfactuals that require a search model framework, and different estimation approaches. The goal of this paper is to consolidate knowledge and provide a unified treatment of various aspects of sequential search models that are relevant for empirical work.

Keywords: Sequential Search Model

JEL Classification: D43, D83, L13

Suggested Citation

Ursu, Raluca and Seiler, Stephan and Honka, Elisabeth, The Sequential Search Model: A Framework for Empirical Research (October 3, 2022). Available at SSRN: https://ssrn.com/abstract=4236738 or http://dx.doi.org/10.2139/ssrn.4236738

Raluca Ursu (Contact Author)

New York University - Stern School of Business ( email )

Tisch Hall
40 W 4 St.
New York, NY NA 10012
United States

Stephan Seiler

Imperial College Business School ( email )

South Kensington Campus
Exhibition Road
London SW7 2AZ, SW7 2AZ
United Kingdom

Centre for Economic Policy Research ( email )

London
United Kingdom

Elisabeth Honka

University of California, Los Angeles (UCLA) - Anderson School of Management ( email )

110 Westwood Plaza
Los Angeles, CA 90095-1481
United States

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