Competition in search markets with naive consumers.
We study a search market where firms may design products of inferior quality to promote them to naive consumers who misjudge product characteristics. We derive an equilibrium in which superior and inferior quality co‐exist and show that as search frictions vanish, the share of superior goods goes to...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 53; no. 2; pp. 356 - 386 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Jun2022
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |