Marktverhalten bei Qualitätsunsicherheit
[Market behavior under capital uncertainty]
AbstractIn 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.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 21081.
Date of creation: 1985
Date of revision:
market behaviour; quality uncertainty;
Find related papers by JEL classification:
- D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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