The efficiency of market-assisted choice: an experimental analysis of mobile phone connection service recommendations

Earl, Peter E. , Friesen, Lana and Shadforth, Christopher (2017) The efficiency of market-assisted choice: an experimental analysis of mobile phone connection service recommendations. Journal of Institutional Economics, . doi:10.1017/S174413741700011X


Author Earl, Peter E.
Friesen, Lana
Shadforth, Christopher
Title The efficiency of market-assisted choice: an experimental analysis of mobile phone connection service recommendations
Journal name Journal of Institutional Economics   Check publisher's open access policy
ISSN 1744-1382
1744-1374
Publication date 2017-04-09
Sub-type Article (original research)
DOI 10.1017/S174413741700011X
Open Access Status Not yet assessed
Total pages 25
Place of publication Cambridge, United Kingdom
Publisher Cambridge University Press
Language eng
Abstract This paper reports an experiment in which participants were allowed an hour to find the cheapest mobile phone plan for a specific usage remit and were given either (a) access to an offline archive of provider websites or (b) access to the Internet. They were required to think aloud, and recordings were made of what they said and what transpired on their computer screens. Access to comparison sites and other market institutions resulted in significantly cheaper plans being selected on average. Within the group of online subjects, excess costs of recommended plans were inversely related to the time spent using market institutions. Although the designs of comparison websites sometimes hampered decision making, outcomes were generally enhanced by the ability to use these online market institutions.
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: HERDC Pre-Audit
School of Economics Publications
 
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