that there is always a strictly positive price-quality relation in equilibrium but the classical adverse selection effects …

We designed an experiment that examines how knowledge about the price of a good, and the time at which the information … is received, affects how the good is experienced. The good in question was wine, and the price was either high or low …. Our results suggest that hosts offering wine to guests can safely reveal the price: much is gained if the wine is …

We conduct a laboratory experiment that tests two fundamental predictions unique to salience theory. If an agent … purchases one of two vertically differentiated products, salience theory makes the following two distinct predictions. First, it … hypothesizes that a higher expected price level for both products shifts demand toward the more expensive, high-quality product …