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  • In this paper, I study markets where consumers are heterogeneous with respect to both their concerns for the quality of goods and the image associated with them. Consumers with a taste for quality lend a positive image to the product of their choice and thereby increase the product's value to others. A monopolist restricts the product portfolio and charges price premia to allocate image along with quality. Heterogeneity in image concerns thereby provides a rationale for pooling consumers with differing quality preferences. Although image is correlated with a product's quality in equilibrium, an increase in the value of image may decrease quality provision. In a competitive market, premium prices are unsustainable so that image-concerned consumers buy excessive quality instead. Monopoly may therefore yield higher welfare than competition. Policy options to remedy the efficiency losses are discussed. (author's abstract) (xsd:string)
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?:dateModified
  • 2013 (xsd:gyear)
?:datePublished
  • 2013 (xsd:gyear)
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  • true (xsd:boolean)
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  • en (xsd:string)
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  • Image concerns and the provision of quality (xsd:string)
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  • Arbeitspapier (xsd:string)
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  • GESIS-SSOAR (xsd:string)
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?:volumeNumber
  • SP II 2013-211 (xsd:string)