Effects of Information Provision in a Vertically Differentiated Market

T. Chipty and A.D. Witte

Working Papers from Wellesley College - Department of Economics

Abstract: In this paper, we study the effects of consumer information on equilibrium market prices and observable product quality in the market for child care. Child care markets offer a unique opportunity to study these effects because of the existence of resource and referral agencies (R&Rs) in some markets. R&Rs provide consumers with information on availiability, price, and observable characteristics of care. To understand the effects of information provision in markets like child care, which exhibit a distribution of product quality, we examine the effects of information provision in a model of vertical differentiation.

Keywords: INFORMATION; CHILD CARE; PRICES (search for similar items in EconPapers)
JEL-codes: K3 L15 L5 (search for similar items in EconPapers)
Pages: 35 pages
Date: 1998
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:wecoec:98-02

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