Second, we explore returns to information search for revolvers by describing the APRs and the potential
savings in interest payments associated with different
levels of search. Since Lee and Hogarth (1998) reported
that searching was not associated with a lower interest
rate for convenience users, the present study focuses on
estimating returns to information search for revolvers
only. Revolvers are defined as credit card holders who
carried outstanding balances after their last payment.