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Quality labeling and information asymmetry: identification of quality labeling certification schemes in Bulgaria

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  • Nikolov, Bogomil
  • Vassileva, Elka
  • Ivanova, Daniela

Abstract

Third party certification provides assurance to consumers that the information supplied by firms is correct. Consumers may question the validity of the information provided by firms, particularly for credence goods. Third party certification provides consumers with an objective evaluation of the product’s quality attributes and helps firms establish credible market claims. An identification and analysis of third parties quality labelling schemes in Bulgaria is presented. Discussion focuses on the coverage, promoters/owners and stakeholder inclusion in such schemes, and consideration of their impartiality, accessibility, independence and transparency. The disclosure of information to consumers by third parties quality certification is explored. Conclusions are drawn regarding their potential role in future shifts towards efficient consumer information practices in Bulgaria.

Suggested Citation

  • Nikolov, Bogomil & Vassileva, Elka & Ivanova, Daniela, 2010. "Quality labeling and information asymmetry: identification of quality labeling certification schemes in Bulgaria," MPRA Paper 50070, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:50070
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    References listed on IDEAS

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    4. Joop de Boer, 2003. "Sustainability labelling schemes: the logic of their claims and their functions for stakeholders," Business Strategy and the Environment, Wiley Blackwell, vol. 12(4), pages 254-264, July.
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    1. Nikolov, Bogomil & Vasileva, Elka & Ivanova, Daniela, 2011. "The information asymmetries and consumer policy issues in Bulgaria," MPRA Paper 50041, University Library of Munich, Germany.

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    More about this item

    Keywords

    Quality labelling; information asymmetry; third parties quality labelling certification; Bulgaria;
    All these keywords.

    JEL classification:

    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • Z18 - Other Special Topics - - Cultural Economics - - - Public Policy

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