Stigler's (1961) theory of the economics of information indicates that consumers

will expend resources on search up to the point where the value of expected gains

(a lower discovered price in the Stigler example) just equals the incremental cost

of additional search. Of course the incremental costs of searching depend on a

number of factors. Which of the following is not one of them?

a. The cost of the good

b. The geographical extent of the marketplace

c. The effectiveness of sellers' price advertising which makes research less

costly

d. The searcher's income which gives rise to opportunity cost

e. Familiarity with the market (think of tourists)