Abstract
The study applies Stigler's economic model of information to the external search for a popular financial service — consumer credit — and seeks to explore factors associated with diverse consumer search behaviour. Logistic regression analysis was used. The empirical analysis revealed findings similar to those of several product information search studies. Consumers engage in little information search. Large expenditure (in this study, the size of loan) and education have significantly positive effects on credit search. Income has a curvilinear effect on search. Implications of these results may contribute to consumer education, public policy making and future research.
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