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We use responses to survey questions in the 2010 Italian Survey of Household Income and Wealth
that ask consumers how much of an unexpected transitory income change they would consume. We
find tha...
Emergence of product differentiation from consumer heterogeneity and asymmetric information
Emergence product differentiation consumer heterogeneity asymmetric information
2010/12/17
We introduce a fully probabilistic framework of consumer product choice based on quality assessment. It allows us to capture many aspects of marketing such as partial information asymmetry, quality di...