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Journal Article

The Value of Information in an Online Consumer Electronics Market

Michael R. Baye, John Morgan and Patrick Scholten
Journal of Public Policy & Marketing
Vol. 22, No. 1, Marketing's Information Technology Revolution: Implications for Consumer Welfare and Economic Performance (Spring, 2003), pp. 17-25
Stable URL: http://www.jstor.org/stable/30000838
Page Count: 9
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
The Value of Information in an Online Consumer Electronics Market
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Abstract

Consumers who bought electronics products at the lowest prices on Shopper.com during 2000 and 2001 saved an average of 16% off the average listed price. The value of the information provided by a service such as Shopper.com depends on the size of the market, which is consistent with a variety of theories. When two firms list prices, consumers save 11% by purchasing at the lowest price rather than at the average price. These savings jump to 20% when more than 30 firms list prices. However, the potential savings accrue only to consumers on the "right" side of the digital divide.

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