Individuals who are unaware of the price do not derive more enjoyment from more expensive wine. In a sample of more … than 6,000 blind tastings, we find that the correlation between price and overall rating is small and negative, suggesting … effects, and are not driven by outliers: when omitting the top and bottom deciles of the price distribution, our qualitative …

We designed an experiment that examines how knowledge about the price of a good, and the time at which the information … is received, affects how the good is experienced. The good in question was wine, and the price was either high or low …. Our results suggest that hosts offering wine to guests can safely reveal the price: much is gained if the wine is …

We consider an oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in …-inefficiency of the price/quality offers. But, better price/quality combinations are signalled with lower prices in one type and with …

and trade in which duopolistic firms face quality-dependent costs and compete in quality and price in two segmented …

and price in two segmented markets. Minimum quality standards, set according to the principle of Mutual Recognition, can …

price discriminate while the low-quality entrant sets a uniform price. The incumbent may act as a predator, that is, it may … price below its marginal costs on a subset of consumers to induce the rival's exit. We show that the entrant may adopt an … show that when the incumbent may choose whether to price discriminate or not before the game starts, if the quality cost …

price discriminate while the low-quality entrant sets a uniform price. The incumbent may act as a predator, that is, it may … price below its marginal costs on a subset of consumers to induce the rival's exit. We show that the entrant may adopt an … show that when the incumbent may choose whether to price discriminate or not before the game starts, if the quality cost …

costs and quality-dependent costs of production and compete in quality and price in the domestic market. Quality …

Firms signal high quality through high prices even if the market structure is highly competitive and price competition … business to rival firms with higher probability. Some of the revealing equilibria involve high degree of market power (price …