Improved consumer information about horizontal aspects of products of similar quality leads to better consumer matching but also to higher prices, so consumer surplus can go up or down, while profits rise. With enough quality asymmetry, though, the higher-quality (and hence larger) firm's price...

Efficiency arguments explain why commercial intermediaries exist and will continue to be involved in the exchanges despite the spread of digital networks. Commercial intermediaries provide producers and consumers with a set of information, logistic, securization and insurance (and liquidity)...

Retailers often use money-back guarantees to reduce consumer perceived risk about brand quality and to increase their market share. The effect of such guarantees on perceived product quality and ultimately preference and product choice depends on their perceived value and credibility, related to...

The standardization of partially substitutable components destined to meet a set of needs is studied. The monocriterion approach to standardization proposed in the last century is highlighted by taking into account several criteria and an economic valorization through modeling by linear...