unique equilibrium, which is separating. Higher-quality sellers post higher prices, so price signals quality. The arrival … higher continuation values. For some parameter values, higher-quality sellers post the full-information price; for other … values these sellers have to post a higher price to keep lower-quality sellers from mimicking them. In an extension, we show …

This paper takes advantage of a natural experiment to examine the relationship between the price and saliency of health …

. Evidence suggests that the stricter quality standards increased the transaction price of used condominiums by 15% in the Tokyo …