Information Gathering Externalities in Product Markets
نویسندگان
چکیده
منابع مشابه
Information gathering externalities in product markets1
Goods and services vary along a number of dimensions independently. Customers can choose to acquire information to assess some characteristics and not others. Their choices a¤ect rms incentives to invest in quality and so lead to indirect externalities in consumerschoices. We illustrate these ideas by characterizing a model in which a monopolist sets price and invests in the quality of a pro...
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In frictional matching markets with heterogeneous buyers and sellers, sellers incur discrete showing costs to show goods to buyers who incur discrete inspection costs to assess the suitability of the goods on offer. This paper studies how brokers can help reduce these costs by managing the level and mix of goods in their inventory. We find that intermediaries emerge and improve social welfare w...
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Most goods and services vary in numerous dimensions. Customers choose to acquire information to assess some characteristics and not others. Their choices affect firms’incentives to invest in quality and so lead to indirect externalities in consumers’choices. We illustrate these ideas by characterizing a model in which a monopolist invests in the quality of a product with two characteristics, an...
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An important product strategy for firms in mature markets is value-adding modifications to existing products. Marketing information that reveals consumers’ preferences, buying habits, and lifestyle is critical for the identification of such product modifications. We consider two types of valueadding modifications that are often facilitated by marketing information: retention-type modifications ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.1008302