In the context of competitive markets with asymmetric information, the authors develop a model of firms' branding decisions. In equilibrium, both branded and unbranded products exist, and the authors characterize price-quality relationships between them. In contrast to other advertising models,...

This article gives a formal rationale for image advertising and branding of homogeneous products that are consumed in public. The idea is that consumers can use brand choice to coordinate behavior and send meaningful social signals. The article distinguishes between variety signals and quality...

The author compares the alternative game forms for situations where a buyer needs a sequence of human asset services. The hierarchy is defined as a game form in which the parties engage in once-and-for-all wage negotiation, the boss describes desired services sequentially, and either party may...