Quantifying search and switching costs in the US auto insurance industry

I estimate demand for auto insurance in the presence of two types of market frictions: search and switching costs. I develop an integrated utility-maximizing model in which consumers decide over which and how many companies to search and from which company to purchase. My modelling approach rational...

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Bibliographic Details
Published in:The Rand journal of economics 2014-12, Vol.45 (4), p.847-884
Main Author: Honka, Elisabeth
Format: Article
Language:English
Subjects:
Automobile industry
Automobile insurance
Companies
Consumer prices
Consumers
Cost estimates
Costs
Customer retention
Customer satisfaction
Economic models
Elimination
Homeowners insurance
Informationskosten
Insurance
Insurance companies
Insurance industry
Insurance policies
Insurance premiums
Insurance providers
Kfz-Versicherung
Modelling
Nutzenmaximierung
Observational research
Rationality
Studies
U.S.A
USA
Utility theory
Wechselverhalten
Welfare
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