This paper analyses the impact of standardization on welfare of consumers who rely on signals as indicators of product quality. a variance reduction approach suggests that, after standardization, consumers will choose to rely on fewer signals in their evaluation of product quality. the optimal...

The electrical industry must continue to play a positive role in industrial markets irrespective of whether general economic conditions are good or bad. The most economic coal prices will need to be sought, adjustments to the changing social/economic conditions made so as to keep pace with the...