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Marktverhalten bei Qualitätsunsicherheit
[Market behavior under capital uncertainty]


  • Gilroy, Bernard Michael
  • Broll, Udo


In 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.

Suggested Citation

  • Gilroy, Bernard Michael & Broll, Udo, 1985. "Marktverhalten bei Qualitätsunsicherheit
    [Market behavior under capital uncertainty]
    ," MPRA Paper 21081, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:21081

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    More about this item


    market behaviour; quality uncertainty;

    JEL classification:

    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty


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