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Measuring the efficiency of stochastic signals of product quality


Reference:

Hudson, J. and Jones, P., 2001. Measuring the efficiency of stochastic signals of product quality. Information Economics and Policy, 13 (1), pp. 35-49.

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Abstract

This paper explores how consumers combine stochastic signals, hence differentiating it from a game theoretic approach, of product quality from a search theoretic perspective. Individuals will tend to progress towards more cost efficient signals as they get older. Based on this analysis signals are ranked both in terms of cost effectiveness and signal precision. (C) 2001 Elsevier Science B.V. All rights reserved.

Details

Item Type Articles
CreatorsHudson, J.and Jones, P.
DepartmentsFaculty of Humanities & Social Sciences > Social & Policy Sciences
Faculty of Humanities & Social Sciences > Economics
RefereedYes
StatusPublished
ID Code10278
Additional InformationID number: ISI:000167309900003

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