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The effect of information on the well-being of the uninformed : what's the chance of getting a decent meal in an unfamiliar city?
Albrecht, James W.; Lang, Harald; Vroman, Susan B. - In: International journal of industrial organization 20 (2002) 2, pp. 139-162
Persistent link: https://www.econbiz.de/10001715921
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The Effect of Information on the Well-Being of the Uninformed : What's the Chance of Getting a Decent Meal in an Unfamiliar City
Albrecht, James W.; Vroman, Susan B.; Lang, Harald - 2000
We consider a market in which some consumers are fully informed about the quality of a product sold by different firms, while other consumers are uninformed. We examine the effects on the prices and qualities offered in the market of increasing the fraction of informed consumers. In equilibrium,...
Persistent link: https://www.econbiz.de/10014148110
Cover Image
The Effect of Information on the Well-Being of the Uninformed : What's the Chance of Getting a Decent Meal in an Unfamiliar City
Albrecht, James W.; Vroman, Susan B.; Lang, Harald - 2001
We consider a market in which some consumers are fully informed about the quality of a product sold by different firms, while other consumers are uninformed. We examine the effects on the prices and qualities offered in the market of increasing the fraction of informed consumers. In equilibrium,...
Persistent link: https://www.econbiz.de/10014144201