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of the introduced theory are applicable to several (credence-good) industries which employ labels or rankings, including …
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, yet economic theory reveals situations where their introduction reduces the welfare of, at least, some market participants … labeling to produce undesirable side-effects. In constrast to early reviews that either concentrate on narrow topics or treat … contradictory. We focus on "quality labels" and exemine: i) the impact of labeling on market structure; ii) the side-effects of …
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