دانلود مقاله ISI انگلیسی شماره 50328
ترجمه فارسی عنوان مقاله

اطلاعات نامتقارن و سرمایه گذاری بیش از حد در کیفیت

عنوان انگلیسی
Asymmetric information and overinvestment in quality
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
50328 2014 17 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : European Economic Review, Volume 66, February 2014, Pages 127–143

ترجمه کلمات کلیدی
اطلاعات نامتقارن - کیفیت محصول - انتخاب نامساعد
کلمات کلیدی انگلیسی
D82; D92; L15Asymmetric information; Product quality; Adverse selection
پیش نمایش مقاله
پیش نمایش مقاله  اطلاعات نامتقارن و سرمایه گذاری بیش از حد در کیفیت

چکیده انگلیسی

In a standard adverse selection world, asymmetric information about product quality leads to quality deterioration in the market. Suppose that a higher investment level makes the realization of high quality more likely. Then, if consumers observe the investment (but not the realization of product quality) before purchase, they can infer the probability distribution of high and low quality that may be put on the market. We uncover two effects that may lead the firm to overinvest in quality compared to a market with full information: first, an adverse selection effect according to which a sufficiently large investment can avoid adverse selection and, second, an efficiency effect according to which a larger investment reduces the probability of having in the market low quality products that are not socially valuable.