Marktverhalten bei Qualitätsunsicherheit

Gilroy, Bernard Michael and Broll, Udo (1985): Marktverhalten bei Qualitätsunsicherheit.

Abstract

In reality, the so called 'law of one price' does not always hold, especially since the consumers' search for information bears positive costs. This is more than often also due to the models assumption of fully informed consumers.

The present paper deeply investigates the topic of positive information costs, imperfect information and the influence on market institution, which is also at the heart of nowadays' information economics.

• Item Type: MPRA Paper
• English Title: Market behavior under capital uncertainty
• Language: German
• Keywords: market behaviour; quality uncertainty
• Subjects: D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D52 - Incomplete Markets; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty

References

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von Ungern-Sternberg, T., von Weizsäcker, C.C., Marktstruktur und Marktverhalten bei Qualitätsunsicherheit, in: Zeitschrift für Wirtschafts und Sozialwissenschaften, 101. Jg. (1981), S.609-626.