price discriminate across markets based on the local wage of consumers. With price dispersion, the market price of a good … does not measure its resource cost. This breaks the tight link between relative quantities and relative prices implied by … most models. We show that volatile and persistent fluctuations in relative wages lead to volatile and persistent …

terms of the "implicit contract" between firm an consumers, whereby the ¯firm invests in quality an consumers p ay a high … price. The reason is that the costs from cheating consumers are greater under umbrella branding (loss of reputation in all …

provides an example of an economy with three commodities and two consumers. In this example, all of Mas-Colell's assumptions …

's proposition, which was translated in a set of hypotheses. Findings – The results obtained indicated that consumers perceived …; variables that could exert influence on the impact of CSR on consumers' reactions; the influence of information sources about … opportunity to respond to their consumers' desires of feeling good about a purchase (incentivating CSR), while achieving their …

consumer preferences and instead uses asset prices. The method is based on the marginal cost of consumption fluctuations, the …