When a durable good of uncertain quality is introduced to the market, some consumers strategically delay their buying to the next period with the hope of learning the unknown quality. We analyze the monopolist's pricing and "waiting" strategies when consumers have strategic delay incentives. We...

Gesundheit, Arzneimittel, Wohlfahrtsökonomik, Extra-Welfarismus. - Since 1961 access to market for innovative pharmaceuticals was increasingly regulated. The first step was a simple registration procedure, followed by federal licensing in 1978. Since 1989 the licensing was complemented by price...