credence goods market is one of the markets that the asymmetric information has transformed it to a missing market. those goods and services that the applicant cannot determine the exact amount of their expenses due to the asymmetric information are called credence goods. from the economists' perspective, transaction in a market where participants are ignorant about each other is a game wi...

This paper presents a theoretical view of imperfect market. It concludes that an increase in the price of products does not give any incentive to increasing production which shows the mechanism for upward trends in prices.

Markets as diverse as labor, healthcare, restaurants, transportation, mobile telephony, and broadband Internet services often have providers that offer flatrate pricing; usage-based pricing; or both. Using agent-based simulation and analysis of an idealized model of a duopoly with one flat-rate and one usagebased provider, we demonstrate that flat-rate plans are unsustainable in a perfectly com...