Results 241 to 250 of about 471,581 (293)

Product Quality and Imperfect Information

The Review of Economic Studies, 1985
This paper considers markets in which consumers are imperfectly informed about both product prices and quality levels offered by firms. We characterize necessary and sufficient conditions for existence of the various equilibrium configurations of price and quality that can arise in two paradigm cases; when all consumers prefer higher quality and when ...
Schwartz, Alan, Wilde, Louis L.
openaire   +3 more sources

Quality and Imperfect Competition

SSRN Electronic Journal, 2020
We study the relationship between market power and quality supply. We develop a flexible approach to imperfect competition in product qualities and prices (or quantities), which encompasses several existing models. We uncover sufficient statistics, including our quality parameter, which can be estimated empirically, for many comparative statics.
openaire   +2 more sources

Minimum Quality Standard Regulation Under Imperfect Quality Observability

SSRN Electronic Journal, 2011
Minimum quality standards (MQS) constitute an important regulatory tool that can be used to raise product qualities, to benefit consumers and to increase market participation. One of the main assumptions in the existing literature is that firms must comply with standards. Nevertheless, in many industries, and in particular the service industry, quality
Min Chen, Konstantinos Serfes
openaire   +1 more source

Economic implications of imperfect quality certification

Economics Letters, 1991
Abstract Imperfect but efficient third-party certification of unobserved product quality in a market under asymmetric information results in equilibrium outcomes which are very different from those implied by models of perfect certification and have a number of interesting economic implications.
De, Sankar, Nabar, Prafulla
openaire   +1 more source

Imperfect information in a quality-competitive hospital market

Journal of Health Economics, 2010
We examine the implications of policies to improve information about the qualities of profit-seeking duopoly hospitals which face the same regulated price and compete on quality. We show that if hospital costs of quality are similar then better information increases the quality of both hospitals.
Gravelle, H, SIVEY, P
openaire   +3 more sources

Valuing Varieties with Imperfect Output Quality Measurement

American Journal of Agricultural Economics, 2003
AbstractMarkets for agricultural products may be inefficient when signals do not adequately reflect product characteristics important to market participants. Preferences can be explicitly reflected in price premiums for measurable characteristics using hedonic methods.
David K. Lambert, William W. Wilson
openaire   +2 more sources

Extreme multi-stability: When imperfection changes quality

Chaos, Solitons & Fractals, 2018
Abstract In this paper, we discuss how chaotic systems show the importance of imperfection. This happens through the butterfly effect. Then we discuss that chaotic systems with extreme multi-stability can much better demonstrate such importance. The reason is that in such systems not only the quantity of time-series is affected by butterfly effect ...
Sajad Jafari, Atefeh Ahmadi, Shirin Panahi, Karthikeyan Rajagopal   +3 more
openaire   +1 more source

Financial imperfections, product quality, and international trade

Journal of International Economics, 2017
We study how financial imperfections affect product quality across countries and industries, and analyze the implications for trade flows and prices. To this purpose we assemble a unique data set, which contains estimates of export quality, financial development, and financial vulnerability, for all countries and manufacturing industries over the last ...
Crino', Rosario, Ogliari, Laura
openaire   +3 more sources

Fuzzy Random EOQ Models with Imperfect Quality Items

2006 International Conference on Machine Learning and Cybernetics, 2006
This paper investigates the economic order quantity (EOQ) inventory problem with imperfect quality items, where the percentages of defective items and poor-quality items in each delivered lot are assumed to be random variables, and the inspection cost, holding cost, ordering cost are characterized as fuzzy variables, respectively.
Xiao-bin Wang, Wan-sheng Tang, Feng Xue
openaire   +1 more source