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dc.contributor.authorOrosel, Gerhard O.en
dc.contributor.authorZauner, Klaus G.en
dc.date.accessioned2009-01-28T15:53:44Z-
dc.date.available2009-01-28T15:53:44Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/18909-
dc.description.abstractWe analyze vertical product differentiation in a model where a good's quality is unobservableto buyers before purchase, a continuum of quality levels is technologically feasible, andminimum quality is supplied under competitive conditions. After purchase the true quality ofthe good is revealed with positive probability. To provide firms with incentives to actuallydeliver promised quality, prices must exceed marginal cost. We derive sufficient conditionsfor these incentive constraints to determine equilibrium prices, and show that under certainconditions only one or both of the extreme levels of quality, minimum and maximum quality,are available in the market.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1271en
dc.subject.jelL15en
dc.subject.jelL11en
dc.subject.jelD82en
dc.subject.ddc330en
dc.subject.keywordexperience goodsen
dc.subject.keywordproduct differentiationen
dc.subject.keywordproduct qualityen
dc.subject.keywordasymmetric informationen
dc.subject.stwProduktdifferenzierungen
dc.subject.stwProduktqualitäten
dc.subject.stwGleichgewichten
dc.subject.stwAsymmetrische Informationen
dc.subject.stwÖkonomischer Anreizen
dc.subject.stwInformationsverhaltenen
dc.subject.stwProduktinformationen
dc.subject.stwTheorieen
dc.subject.stwErfahrungsgüteren
dc.titleVertical product differentiation when quality is unobservable to buyers-
dc.typeWorking Paperen
dc.identifier.ppn856889008en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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