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- W2066704626 abstract "The advertising of credence goods is analyzed in a similar way to the way Milgrom and Roberts analyzed the advertising of experience goods. The existing literature on credence goods has not considered the possibility that some consumers have the expertise to assess the product's quality and the possibility that the producer can advertize. I assume these two points and show that there exists a unique equilibrium that survives the 'intuitive criterion'. Also, it is shown that through encouraging producers to accept new technologies advertising may increase social welfare instead of just being a pure social cost." @default.
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- W2066704626 date "2004-03-24" @default.
- W2066704626 modified "2023-09-24" @default.
- W2066704626 title "The Advertising of Credence Goods as a Signal of Product Quality" @default.
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