Reducing buyer search costs: implications for electronic marketplaces
Management Science - Special issue: Frontier research on information systems and economics
Pricing strategies on the Web: evidence from the online book industry
Proceedings of the 2nd ACM conference on Electronic commerce
Pricing price information in e-commerce
Proceedings of the 3rd ACM conference on Electronic Commerce
IJCAI '99 Proceedings of the Sixteenth International Joint Conference on Artificial Intelligence
Frictionless Commerce? A Comparison of Internet and Conventional Retailers
Management Science
A Manifesto for Agent Technology: Towards Next Generation Computing
Autonomous Agents and Multi-Agent Systems
Serving Comparative Shopping Links Non-invasively
WI-IAT '09 Proceedings of the 2009 IEEE/WIC/ACM International Joint Conference on Web Intelligence and Intelligent Agent Technology - Volume 01
Web Intelligence and Agent Systems
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The price information that shopbots provide to buyers is clearly valuable, as it enables them to make a better informed choice of product and vendor. We quantify the value of this price information to the buyer in terms of the price dispersion and the buyer's brand preferences, and consider scenarios in which the buyer pays a seller, a shopbot, or some other third party for price information. As an illustration, we compute the value of price information of well known retailers in online book markets, using data on price dispersion and brand preferences reported by Smith and Brynjolfsson, finding that information about a book's price can be about 6% to 10% as valuable as the book itself.