' behavior and firms' incentives to upgrade product quality in markets where information is traditionally limited. I first build … a model of consumer search with firms' endogenous quality decisions. In this model, lower search costs reallocate demand … toward higher-quality producers, raising firms' incentives to upgrade quality, and more so for firms selling ex-ante lower-quality …

discrimination will improve monopoly profit if and only if information precision is higher than a certain threshold level. This U … monopoly’s investment in information accuracy. However, this cost should not dissuade firms to collect some information on …

optimal level. This interplay between learning and surplus extraction is crucial to the market outcome and its dynamics. …

We propose a signaling model of student enrollment dynamics based on probabilities of completion of studies, under …

observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …We designed four observational learning experiments to identify the key channels that, along with Bayes … turn by subjects endowed with private signals of medium quality. We find that when unobserved face a handful of identical …

and expected price-quality offers. The monopolist designs a sequence of price-quality menus to segment the market. We … consider the Markov Perfect Equilibrium (MPE) of a game where the monopolist is unable to commit to future price-quality menus …

demand. The former learning effect, combined with the latter real-options effect, adversely affect firms' entry decisions and …

This paper considers competitive search equilibrium in a market for a good whose quality differs across sellers. Each … seller knows the quality of the good that he or she is offering for sale, but buyers cannot observe quality directly. We thus … unique equilibrium, which is separating. Higher-quality sellers post higher prices, so price signals quality. The arrival …

Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer … acquisition ; inspection ; lemons ; middlemen ; signaling …