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Joint Product Signals of Product Quality

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Author Info
James E. McClure () (Department of Economics, Ball State University)
Lee C. Spector () (Department of Economics, Ball State University)

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Abstract

In the absence of other information about the quality of an experience good, the price of a jointly produced search good provides consumers with a signal of the former good’s quality.. This hypothesis provides an explanation for the heretofore unexplained pricing policies found in Barron’s and Umbeck’s (1984) empirical investigation of gasoline retailing.

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File URL: http://web.bsu.edu/cob/econ/research/papers/bsuecwp199101mcclure.pdf
File Format: application/pdf
File Function: First version, 1991
Download Restriction: no

Publisher Info
Paper provided by Ball State University, Department of Economics in its series Working Papers with number 199101.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 10 pages
Date of creation: Jan 1991
Date of revision: Apr 1991
Publication status: Published in Atlantic Economic Journal 19 no. 4 (1991): 38-41.
Handle: RePEc:bsu:wpaper:199101

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Related research
Keywords: Search good; Experience good; Product quality signal; Gasoline retailing;

References listed on IDEAS
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  1. Nelson, Phillip, 1970. "Information and Consumer Behavior," Journal of Political Economy, University of Chicago Press, vol. 78(2), pages 311-29, March-Apr. [Downloadable!] (restricted)
  2. Barron, John M & Umbeck, John R, 1984. "The Effects of Different Contractual Arrangements: The Case of Retail Gasoline Markets," Journal of Law & Economics, University of Chicago Press, vol. 27(2), pages 313-28, October.
  3. Frank, Robert H, 1985. "The Demand for Unobservable and Other Nonpositional Goods," American Economic Review, American Economic Association, vol. 75(1), pages 101-16, March. [Downloadable!] (restricted)
  4. Milgrom, Paul & Roberts, John, 1986. "Price and Advertising Signals of Product Quality," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 796-821, August. [Downloadable!] (restricted)
    Other versions:
  5. Nelson, Philip, 1974. "Advertising as Information," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 729-54, July/Aug.. [Downloadable!] (restricted)
  6. Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, vol. 87(3), pages 355-74, August. [Downloadable!] (restricted)
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