Mirman, Leonard J.; Salgueiro, Egas; Santugini, Marc - Institut d'Économie Appliquée, HEC Montréal (École … - 2011
monopoly problem when the price imperfectly signals quality to the uninformed buyers. We then study the effect of noise on … output, market price, information flows, and expected profits. The presence of noise may reduce the informational externality …