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- W3177786233 endingPage "103824" @default.
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- W3177786233 abstract "This paper provides empirical evidence on the welfare losses associated with asymmetric information about product quality in a competitive market. When consumers cannot observe product characteristics at the time of purchase, atomistic producers have no incentive to supply costly quality. We compare wine prices across administrative districts around the enactment of historic regulations aimed at certifying the quality of more than 250 French appellation wines to identify welfare losses from asymmetric information. We estimate that these losses amount to more than 7% of total market value, suggesting an important role for credible certification schemes." @default.
- W3177786233 created "2021-07-19" @default.
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- W3177786233 date "2021-09-01" @default.
- W3177786233 modified "2023-10-18" @default.
- W3177786233 title "How big is the “lemons” problem? Historical evidence from French wines" @default.
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- W3177786233 doi "https://doi.org/10.1016/j.euroecorev.2021.103824" @default.
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