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Making sense of non-binding retail-price recommendations
Buehler, Stefan; Gärtner, Dennis L. - 2010
We model non-binding retail-price recommendations (RPRs) as a communication device facilitating coordination in vertical supply relations. Assuming both repeated vertical trade and asymmetric information about production costs, we show that RPRs may be part of a relational contract,...
Persistent link: https://www.econbiz.de/10010270481
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The Inefficiency of Market Transparency – A Model with Endogenous Entry
Gu, Yiquan; Hehenkamp, Burkhard - 2010
Including the entry decision in a Bertrand model with imperfectly informed consumers, we introduce a trade-off at the level of social welfare. On the one hand, market transparency is benefi cial when the number of firms is exogenously given. On the other, a higher degree of market transparency...
Persistent link: https://www.econbiz.de/10010273600
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Revolutionary effects of new information technologies
van den Berg, Gerard J. - 2005
In markets with imperfect information and heterogeneity, the information technology affects the rate at which agents meet, which in turn affects the distribution of production technologies across firms. We show that in models for such markets there are typically multiple equilibria because...
Persistent link: https://www.econbiz.de/10010277304
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Ritter Sport und Stiftung Warentest: Informationsdefizite überwinden
Hildenbrand, Andreas; Kühl, Rainer - In: Wirtschaftsdienst 94 (2014) 3, pp. 217-220
's hazelnut chocolate was given a failing grade. This grade was not given because of low quality but because of misleading … over Stiftung Warentest creates a lose-lose situation. The Test seal of quality was damaged. Therefore, information is lost …. High quality producers and consumers with quality awareness are the victims of the information loss. The authors discuss …
Persistent link: https://www.econbiz.de/10011477704
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"Why has economics turned out this way?": A socio-economic note on the explanation of monism in economics
Heise, Arne - 2016
The economic science has - lamented by some, applauded by others - turned into a monistic discipline. In this short research note, a socio-economic answer to the question of why this happened is provided by combining an economic approach to the market for economic ideas with a sociological...
Persistent link: https://www.econbiz.de/10011480369
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Why Brand Manufacturers Should Take Loss Leading Seriously
Inderst, Roman; Obradovits, Martin - 2020
to potentially reassess the relative importance of quality and price, as they evaluate these attributes relative to a … market-wide reference point. With deep discounting, quality can become relatively less important, eroding brand value and the …
Persistent link: https://www.econbiz.de/10013190607
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Excessive Competition on Headline Prices
Inderst, Roman; Obradovits, Martin - 2021
costs and fees so that competition, along with high-quality firms' incentives to educate consumers, can restore efficiency. …
Persistent link: https://www.econbiz.de/10013190610
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Loss Leading as a Threat to Brands
Inderst, Roman; Obradovits, Martin - 2021
to potentially reassess the relative importance of quality and price, as they evaluate these attributes relative to a … market-wide reference point. With deep discounting, quality can become relatively less important, eroding brand value and the …
Persistent link: https://www.econbiz.de/10013190611
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Searching for Treatment
Obradovits, Martin; Plaickner, hilipp - 2020
When experts have superior information on their customers' needs and appropriate treatment/repair/advice is a credence good, there are obvious incentives for opportunistic behavior. What compounds this is that experts regularly make treatment recommendations and price offers only after consumers...
Persistent link: https://www.econbiz.de/10012609027
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The economics of influencers and social media stardom
Gänßle, Sophia; Budzinski, Oliver - 2023
This chapter provides an overview of the economics of influencers and social media stardom. It provides the state-of-research regarding success factors, revenue and payment models, social media platforms and ecosystems, and welfare effects. It describes the role of social media content providers...
Persistent link: https://www.econbiz.de/10014305022