and expected price-quality offers. The monopolist designs a sequence of price-quality menus to segment the market. We … consider the Markov Perfect Equilibrium (MPE) of a game where the monopolist is unable to commit to future price-quality menus …

conveys full information about the quality of the good to uninformed buyers. Deceiving the uninformed buyers by charging a … high price and mimicking a high quality is not profitable when the competitive fringe is large enough. Since a higher price … effect of asymmetric information and learning on the equilibrium outcomes. More uninformed buyers increases the price …

stochastic delivery and can be implemented by multi-item menus that involve selling information or refund options. Under linear … to learn information and buy the good later. Under convex and concave costs, the optimal mechanism may involve type …-specific probabilistic allocations, which can also be implemented through private transmission of different information to different buyer …

manufacturer information on production costs and consumer demand. With static trade, RPRs are irrelevant, and the equilibrium … outcome is inefficient. With repeated trade, RPRs can become part of a relational contract, communicating private information …

the verifiability of the quality provided and the expert's liability. In this paper, we identify the information …-ante and ex-post information asymmetry between the uninformed buyer and the informed seller. Previous literature demonstrates … customers' information might actually lead to welfare losses. Further, we highlight the supremacy of the assumption regarding …

In a market environment with random detection of product quality, a firm can employ umbrella branding as a strategy to … convince consumers of the high quality of its products. Alternatively, a firm can rely on external certification of the quality … external certification. We also show that the potential to signal quality is improved if consumers condition their beliefs on …

We study disclosure of information about the multidimensional state of the world when uninformed receivers' actions …, political campaigning, and monetary policy. -- information disclosure ; semidefinite programming ; linear transformation …

Consider a two-product firm that decides on the quality of each product. Product quality is unknown to consumers. If … the firm sells both products under the same brand name, consumers adjust their beliefs about quality subject to the … performance of both products. We show that if the probability that low quality will be detected is in an intermediate range, the …

Consider a two-product firm that decides on the quality of each product. Product quality is unknown to consumers. If … the firm sells both products under the same brand name, consumers adjust their beliefs about quality subject to the … performance of both products. We show that if the probability that low quality will be detected is in an intermediate range, the …

In a market environment with random detection of product quality, a firm can employ umbrella branding as a strategy to … convince consumers of the high quality of its products. Alternatively, a firm can rely on external certification of the quality … external certification. We also show that the potential to signal quality is improved if consumers condition their beliefs on …