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Cited by 325

The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.

Quantifying search and switching costs in the US auto insurance industry

Open access
Honka, Elisabeth·2014·The RAND Journal of Economics
DOI 10.1111/1756-2171.12073
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Abstract

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 rationalizes observed consideration sets as being the outcomes of consumers' search processes. I find search costs to range from $35 to $170 and average switching costs of $40. Search costs are the most important driver of customer retention and their elimination is the main lever to increase consumer welfare in the auto insurance industry.

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Metadata

Authors
Honka, E.
Venue
The RAND Journal of Economics
Publisher
Wiley
Published
2014-10-29
Volume
45
Issue
4
Pages
847-884
ISSN
  • 0741-6261 (ISSN-L)
  • 1756-2171
DOI
10.1111/1756-2171.12073
OpenAlex
W3121163377
Cited by
325
References
3
FWCI
67.33
Type
journal article
Language
en
Open access
green

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.