increase the product's value to others. A monopolist restricts the product portfolio and charges price premia to allocate image …

choice and thereby increase the product's value to others. A monopolist restricts the product portfolio and charges price …

that there is always a strictly positive price-quality relation in equilibrium but the classical adverse selection effects …

We examine the interplay of imperfect competition and incomplete information in the context of price competition among … vertical quality (e.g., consumer satisfaction), which is signaled via price, softens price competition, and that imperfect …

. Consumers can observe price offers of firms, even though they may not observe the quality before purchase. We set up a simple …, the market may observe both quality dispersion as well as price dispersion in equilibrium. In such an equilibrium, the … find that the price of the pool is higher than the price of the medium quality firms. Third, we apply our analysis to …