This paper presents a model of quality choice in the case of credence goods, i.e. when consumers cannot observe quality even after purchase. It shows that firms may voluntarily overcomply, i.e., produce high quality, even when doing so implies giving up short-run profits. This generalizes...

In this paper we analyze the effectiveness of eco-labels in reducing the supply of eco-unfriendly products. We focus on the situation where a labeled product is viewed by consumers as a private good and develop a theoretical model to pin down theinteraction between consumers' willingness to pay...

Behaviors of migrants towards shocks are worthy to study to understand their reflection on external unexpected events to narrow the gap in the literature of migrations. Besides, rural development policies are believed to help reverse the rural-urban migration. This research paper was aimed at...