Marktverhalten bei Qualitätsunsicherheit

Market behavior under capital uncertainty

Bernard Gilroy and Udo Broll

MPRA Paper from University Library of Munich, Germany

Abstract: 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.

Keywords: market behaviour; quality uncertainty (search for similar items in EconPapers)
JEL-codes: D52 D8 (search for similar items in EconPapers)
Date: 1985
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