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Repeat purchases under quality uncertainty. (English) Zbl 0816.90048
Summary: If the quality of a seller’s products is uncertain and a single purchase cannot reveal the seller’s expected quality, all sellers may benefit if their mean quality or type is not revealed.
91B26 Auctions, bargaining, bidding and selling, and other market models
Full Text: DOI
[1] McGuire, T.G., Patients’ trust and the quality of physicians, Economic inquiry, 21, no. 2, 203-222, (1983)
[2] Nelson, P., Information and consumer behaviour, Journal of political economy, 78, 311-329, (1970)
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