This paper analyzes dynamic selection effects in markets for credence goods where price structures are determined by a regulator or by central management. There are different types of consumers and each type requires a different service or treatment level. We show that for a large class of price...

We consider an information design problem when the sender faces ambiguity regarding the probability distribution over the states of the world, the utility function and the prior of the receiver. The solution concept is minimax loss (regret), that is, the sender minimizes the distance from the...

I study a model of oligopolistic competition in which consumers search for prices, but have no idea about the underlying price distribution. Consumers' behaviour satisfies four consistency requirements such that beliefs about the underlying distribution maximize Shannon entropy. I derive the...