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A New Model of Quality

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NBER1998-05-01 更新2025-01-04 收录
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We develop a new model of quality to capture the idea that even if a customer chooses to purchase a product, it may fail to deliver.' In this event, the customer may wish to choose some other product. We model this as a two stage game where firms first choose quality and then price. We find that in

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1998-05-01
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