Welchen Zusammenhang zwischen Preis und Qualität sollte der Wettbewerb auf Konsumgütermärkten herstellen? Empirische Befunde, normative Überlegungen, marktpolitische Schlussfolgerungen
Not only that consumers take it often for granted that product prices are good indicators of product quality, but also many experts in consumer economics expect a high positive pricequality relationship. However, for more than 50 years numerous studies in more than 10 countries all over the world have shown low price-quality correlation coefficients, mostly close to 0.2. These results have been interpreted twofold: (a) consumers cannot use prices as valid indicators of quality and (b) markets do not function well. In contrast to the second interpretation, this paper argues that, according to the economic theory of price formation, prices are not an indicator of quality, but an indicator of scarcity. This allows the conclusion that workable consumer goods markets, as seen from a welfare point of view, should be characterized by low or even negative correlations between price and objective quality rather than by strong positive coefficients. All the more it is the availability of valid information about product quality which is necessary to enable consumers to avoid inefficient product choices.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 229 (2009)
Issue (Month): 4 (August)
|Contact details of provider:|| Postal: Licher Straße 74, 35394 Gießen|
Phone: +49 (0)641 99 22 001
Fax: +49 (0)641 99 22 009
Web page: http://wiwi.uni-giessen.de/home/oekonometrie/Jahrbuecher/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Schulze, Holger & Spiller, Achim & Bohm, Justus & de Witte, Thomas, 2008. "Ist Geiz wirklich geil? Preis-QualitÃ¤ts-Relationen von Hersteller- und Handelsmarken im Lebensmittelmarkt," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 57(6).
- Heiner Imkamp, 2008. "A New Look at Old Coefficients," Journal of Consumer Policy, Springer, vol. 31(2), pages 139-145, June.
When requesting a correction, please mention this item's handle: RePEc:jns:jbstat:v:229:y:2009:i:4:p:410-425. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Winker)
If references are entirely missing, you can add them using this form.