must learn asset quality over time. Imperfect information transmission reduces asymmetric information, but also reduces the …

our model, an expert enjoys monopoly power on diagnosis and major treatments, but has limited market power on minor …

We investigate a two-period Bertrand market in which one seller introduces a new product of uncertain quality. The new … product competes with an alternative good of known quality. Ex ante neither sellers nor consumers know the value of the new …

Economists have emphasized the role of dissipative advertising and price as signals of quality. Most works, however …, limit the number of types to two options: high and low quality. Yet, production costs and quality both result from R … quality and marginal cost are both subject to chance. In a static framework (no repeat purchases and no informed consumers …

Economists have emphasized the role of dissipative advertising and price as signals of quality. Most works, however …, limit the number of types to two options: high and low quality. Yet, production costs and quality both result from R … quality and marginal cost are both subject to chance. In a static framework (no repeat purchases and no informed consumers …