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Information Transmission in Regulated Markets

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Author Info

  • Carolyn Pitchik
  • Andrew Schotter

Abstract

The seminal papers of Vincent P. Crawford and Joel Sobel (1982) and Jerry Green and Nancy Stokey (1980) study models in which a signal about the state of the world is transmitted from a perfectly informed sender to an uninformed receiver. The authors study a model in which multiple signalers compete for consumers. The authors ask how much information is revealed; how consumers' shopping around affects this information; and how each is affected by incentives? An implication of the model is that, in a price-regulated market for health care, patients should not be prohibited from gathering more than one opinion.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 26 (1993)
Issue (Month): 4 (November)
Pages: 815-29

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Handle: RePEc:cje:issued:v:26:y:1993:i:4:p:815-29

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Citations

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Cited by:
  1. Emons, Winand, 1997. "Credence Goods Monopolists," Berkeley Olin Program in Law & Economics, Working Paper Series qt9c5508x4, Berkeley Olin Program in Law & Economics.
  2. Uwe Dulleck & Rudolf Kerschbamer & Alexander Konovalov, 2014. "Too much or too little? Price-discrimination in a market for credence goods," Working Papers 2014-13, Faculty of Economics and Statistics, University of Innsbruck.
  3. Uwe Dulleck & Rudolf Kerschbamer, 2001. "On Doctors, Mechanics and Computer Specialists Or Where are the Problems with Credence Goods?," Vienna Economics Papers 0101, University of Vienna, Department of Economics.
  4. Uwe Dulleck & Rudolf Kerschbamer, 2005. "Price discrimination via the choice of distribution channels," Economics working papers 2005-08, Department of Economics, Johannes Kepler University Linz, Austria.
  5. repec:cgr:cgsser:03-07 is not listed on IDEAS
  6. Bing Jing, 2011. "Seller honesty and product line pricing," Quantitative Marketing and Economics, Springer, vol. 9(4), pages 403-427, December.
  7. Dmitry Lubensky & Eric Schmidbauer, 2013. "Physician Overtreatment and Undertreatment with Partial Delegation," Working Papers 2013-03, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
  8. Asher Wolinsky, 1991. "Competition in a Market for Informed Experts' Services," Discussion Papers 959, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  9. Dulleck, Uwe & Kerschbamer, Rudolf, 2003. "Price Discrimination in Markets for Experts' Services," CEPR Discussion Papers 4155, C.E.P.R. Discussion Papers.
  10. Maarten Janssen & Alexei Parakhonyak, 2011. "Sårvice Refusal in Regulated Markets for Credence Goods," HSE Working papers WP BRP 08/EC/2011, National Research University Higher School of Economics.
  11. Dominik Erharter, 2012. "Credence goods markets, distributional preferences and the role of institutions," Working Papers 2012-11, Faculty of Economics and Statistics, University of Innsbruck.

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