Discusses conceptual links between consuming and buying by indicating reasons for adopting a macro‐level perspective that focuses on products, rather than brands, as the units of analysis. Investigates, empirically, in a study, which collected data on want‐based purchasing reasons and used...

This paper has three objectives. First, we develop an equilibrium pricing model in which consumers have incomplete information about both product qualities and prices. Specifically, manufacturers can use high prices to signal high quality to uninformed consumers. Furthermore, prices of any given...