A firm chooses a price and the product information it discloses to a consumer whose tastes are privately known. We …

quality information, price information, and horizontal match information. Equilibrium is unique whenever advertising is … information. For a given quality level, as a function of consumer visit costs, first quality information is disclosed, then price … information and then horizontal product information are added to the advertising mix. Some suggestive evidence is provided from …

Improved consumer information about horizontal aspects of products of similar quality leads to better consumer matching …, though, the higher-quality (and hence larger) firm's price falls with more information, so both effects benefit consumers … imparts more information, therefore helps consumers. Although it also improves the profitability of the small firm, overall …

external agent earns information rent from private information about production costs. The principal cannot fully extract … principal has full information on production costs. Our theory proposes a new trade-off, one between information rent under …