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 … knowledge: some consumers know both the prices and quality of the products offered, some know only the prices and some know …

This study shows that mergers’ price effects can vary seasonally. I document countercyclical price increases due to the …