We propose a new approach to simulate the likelihood of the sequential search model. By allowing search costs to be heterogeneous across consumers and products, we directly compute the joint ...

We consider an online market where consumers may obtain digital goods from two mutually exclusive channels: a legitimate channel consisting of many lawabiding retailers and a piracy channel consisting ...

The search procedures available in the OPTEX procedure offer various compromises between speed and reliability in finding the optimum. In general, the longer an algorithm takes to arrive at an answer, ...