Hubert, Schnabel; Karl, Storchmann - In: Journal of Agricultural & Food Industrial Organization 8 (2010) 1, pp. 1-23
In this paper we empirically analyze whether prices serve as signals. Specifically, and following the hypothesis by Bagwell and Riordan (1991), we examine whether (1) higher quality and (2) low consumer information levels about quality are associated with prices that are above the full...