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Imperfect Competition and Quality Signaling
Daughety, Andrew F.; Reinganum, Jennifer F. - 2012
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 …
Persistent link: https://www.econbiz.de/10014063662
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Oligopolistic competition in price and quality
Dubovik, Andrei; Janssen, Maarten C. W. - 2008
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 …
Persistent link: https://www.econbiz.de/10011376636
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The Simple Analytics of Price Signaling Quality
Mirman, Leonard J. - 2012
We present a diagrammatic and step-by-step analysis of price signaling quality. Because quality is a continuum on the … real positive line, out-of-equilibrium beliefs need not be specified, i.e., every positive price is a positive outcome in … equilibrium. We first study the behavior of the monopoly when price conveys information about quality. We then show the effect of …
Persistent link: https://www.econbiz.de/10013115026
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Vertical product differentiation when quality is unobservable to buyers : presented at CESifo Area Conference on Industrial Organisation, March 2003
Orosel, Gerhard O.; Zauner, Klaus G. - 2004
We analyze vertical product differentiation in a model where a good's quality is unobservable to buyers before purchase, a continuum of quality levels is technologically feasible, and minimum quality is supplied under competitive conditions. After purchase the true quality of the good is...
Persistent link: https://www.econbiz.de/10011450700
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Increasing consumer surplus through a novel product testing mechanism
Vollstaedt, Ulrike; Imcke, Patrick; Brendel, Franziska; … - 2020
Our study proposes a novel mechanism to reduce information asymmetry about product quality between buyers and sellers. Product testing organizations like Consumer Reports (US) and Stiftung Warentest (Germany) seek to reduce this asymmetry by providing credible information. However, limited...
Persistent link: https://www.econbiz.de/10012405619
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Green lemons : environmental labels and entry into an environmentally differentiated market under asymmetric information
Kuhn, Michael - 1999
The paper inquires whether a public eco-label mitigatesadverse selection, where an ecologically superior (green) product variant is underprovided. A model, integrating entry into a perfectly competitive, vertically differentiated industry and rationally expected quality structure (REQS) under...
Persistent link: https://www.econbiz.de/10011540478
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Certification and market transparency
Stahl, Konrad; Strausz, Roland - 2017
In markets with quality unobservable to buyers, third-party certification is often the only instrument to increase transparency. While both sellers and buyers have a demand for certification, its role differs fundamentally: sellers use it for signaling, buyers use it for inspection. Seller...
Persistent link: https://www.econbiz.de/10011590937
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Certification and market transparency
Stahl, Konrad; Strausz, Roland - 2014
We provide elementary insights into the effectiveness of certification to increase market transparency. In a market with opaque product quality, sellers use certification as a signaling device, while buyers use it as an inspection device. This difference alone implies that seller-certification...
Persistent link: https://www.econbiz.de/10011491434
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Certification and market transparency
Stahl, Konrad; Strausz, Roland - 2014
We provide elementary insights into the effectiveness of certification to increase market transparency. In a market with opaque product quality, sellers use certification as a signaling device, while buyers use it as an inspection device. This difference alone implies that seller-certification...
Persistent link: https://www.econbiz.de/10010403019
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The economic role of valuers in real property markets
Bartke, Stephan - 2015
Globally, real estate trade is highly regularized. Usually, the market value is not negotiated simply between the seller and potential buyer but based on an assessment performed by a professional valuer, known as a surveyor or appraiser. This paper inquires about the economic role of valuers in...
Persistent link: https://www.econbiz.de/10011349993