Endogenously determined price rigidities
نویسندگان
چکیده
منابع مشابه
Price signaling and the strategic benefits of price rigidities
We analyze trade between a price setting party (seller) who has private information about the quality of a good and a price taker (buyer) who may also have private information. Di erently from most of the literature, we focus on the case in which, under full information, it would be ine cient to trade goods of poor quality. We show that there is a unique equilibrium outcome passing Cho and Krep...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 1997
ISSN: 0938-2259,1432-0479
DOI: 10.1007/bf01213850