Search good

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In economics, a search good is a product or service with features and characteristics easily evaluated before purchase. In a distinction originally due to Philip Nelson, a search good is contrasted with an experience good.

Search goods are more subject to price competition, as consumers can easily verify the price of the product at other outlets and make sure that the products are comparable. Branding and detailed product specifications act to transform a product from an experience good into a search good.

[edit] References

Luis M. B. Cabral: Introduction to Industrial Organisation, Massachusetts Institute of Technology Press, 2000, page 223. ISBN 0-262-03286-4
Philip Nelson, "Information and Consumer Behavior", 78 Journal of Political Economy 311, 312 (1970).

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Types of goods

public good - private good - common good - common-pool resource - club good - anti-rival goods

(non-)rivalrous good and (non-)excludable good
complementary good vs. substitute good
free good vs. positional good

(non-)durable good - intermediate good (producer good) - final good - capital good

inferior good - normal good - ordinary good - Giffen good - luxury good - Veblen good - superior good

search good - (post-)experience good - merit good - credence good - demerit good - composite good

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