Consumer Waiting And Store Choice: the Case Of Home Delivery

Consumer impatience, i.e. a high discount rate of future, implies that consumers desire to acquire money or other goods very quickly. Research on consumers' perceptions of the time value of money abounds. However, hardly any paper has tried to measure consumer disutility for waiting time which can be driven by both impatience for consumption and product perishability. Using a unique dataset of online orders of delivery pizza, we show that people significantly constrain their decision set in favor of stores (e.g. pizzerias) that are very local and this depends primarily from consumers concerns for perishability