Exchange markets with endogenous quality: When the lemons problem enchances trade
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Altres documents de l'autoria: Barreda-Tarrazona, Iván; García-Gallego, Aurora; Georgantzis, Nikolaos; Mitrokostas, Evangelos; Jaber-Lopez, Tarek; Ziros, Nicholas
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Títol
Exchange markets with endogenous quality: When the lemons problem enchances tradeAutoria
Data de publicació
2016Cita bibliogràfica
BARREDA-TARRAZONA, I., GARCÍA-GALLEGO, A., GEORGANTZIS, N., MITROKOSTAS, E., JABER-LÓPEZ, T., ZIROS, N. (2016). Exchange markets with endogenous quality: When the lemons problem enchances trade. Ponencia presentada en las XXXI Jornadas de Economía Industrial. Palma de Mallorca, 1-2 septiembre, 2016Tipus de document
info:eu-repo/semantics/conferenceObjectVersió de l'editorial
https://editorialexpress.com/cgi-bin/conference/download.cgi?db_name=JEI2016&pap ...Versió
info:eu-repo/semantics/publishedVersionResum
A worrying feature of Akerlof’s
(1970) model is that the existence of sufficiently many
products of
relatively
low quality (“lemons”) in a market
may not only drive
those of
high
quality ... [+]
A worrying feature of Akerlof’s
(1970) model is that the existence of sufficiently many
products of
relatively
low quality (“lemons”) in a market
may not only drive
those of
high
quality
out
of the market, but it may even
“...
drive the market out of existence
” (p. 49
5). We
discuss a
two
-
sided market framework with
endogenous quality and provide experimental
evidence
that
the “lemons problem”, rather than drivi
ng the market out of existence, may lead
to
a more intense
exchange
of very low quality products. [-]
Descripció
XXXI Jornadas de Economía Industrial. Palma de Mallorca, 1-2 septiembre, 2016
Proyecto de investigación
Portsmouth Business School (Research Project Fund 2014), Spanish Ministry of Economics and Competitiveness (project ECO2013-44409-P), Bank of Spain Excellence Chair in Computational Economics (project 11I229.01/1)Drets d'accés
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess