Search good

This article defines a property of goods: a property that makes sense in the context of a good being bought and sold, and evaluated from the perspective of the buyer, seller, or others affected by it.
View other properties of goods

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History

The concept of search good, in contrast with experience good, was first discussed in a paper by Phillip Nelson titled Information and consumer behavior.

Definition

A search good is a good for which a (prospective) buyer can determine the total value and total cost prior to making the purchase decision.

Search goods are in contrast to experience goods, whose value is hard to determine prior to purchase and use.

Relation with other properties

Opposite properties

• Experience good
• Credence good

References

Journal references

• Information and consumer behavior by Phillip Nelson, The Journal of Political Economy, Volume 78,Number 2, Page 311 - 329(Year 1970): ^{JSTOR linkMore info}