The economics of information approach to search states that consumers will continue to acquire as much information as they need to make a decision so long as the benefits from searching outweigh the costs.

Question

Quizplus · Accepted Answer

The economics of information approach suggests that consumers will engage in search activities (e.g., gathering information about products or services) as long as the expected benefits from obtaining additional information exceed the costs associated with the search process (such as time, effort, and monetary costs).

The Economics of Information Approach to Search States That Consumers