Tuesday, February 5, 2008

Retail Markets - 3

It is believable that some people comparison shop while others do not.

Can you think of some characteristics of individuals that would influence whether they comparison shop or not? This question is encouraging you to "think like an economist." Once it is recognized that comparison shopping entails a scarce resource --- the shopper's time --- then we can decode the question and ask whether there are characteristics of individuals that make them relatively time abundant.

No comments: