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9783835007581

Strategies in Markets Fur Experience and Credence Goods

by ;
  • ISBN13:

    9783835007581

  • ISBN10:

    3835007580

  • Format: Paperback
  • Copyright: 2007-04-25
  • Publisher: Deutscher Universit€ts Verlag
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Supplemental Materials

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Summary

The quality and characteristics of industrial and consumption goods are often not revealed until after consumption. However, the decision to buy these products must be made before buying. Many strategies and instruments for signalling and screening have been developed in the economic world in order to overcome potential market failure due to insufficient quality detection. In many situations, efficient incentives and quality revelation are given to the market players by contracts that structure the process and payments of the transaction.

Supplemental Materials

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