If It’s All the Same to You: Blurred Consumer Perception and Market Structure
Consumers with bounded perception treat sufficiently similar goods as homogeneous. The effects of bounded perception on a vertically differentiated duopoly with sequential quality choice are examined. When quality entails fixed costs the market becomes more concentrated. When quality entails margina...
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| Veröffentlicht in: | Review of industrial organization 2017-02, Vol.50 (1), p.1-25 |
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| container_title | Review of industrial organization |
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| creator | Webb, Edward J. D. |
| description | Consumers with bounded perception treat sufficiently similar goods as homogeneous. The effects of bounded perception on a vertically differentiated duopoly with sequential quality choice are examined. When quality entails fixed costs the market becomes more concentrated. When quality entails marginal costs, the second mover may profitably imitate the product of its rival, and the market is either more or less concentrated depending on how bounded perception is. When firms incur entry costs, neither firm may opt to produce when quality entails marginal costs, whereas at least one firm always produces when quality entails fixed costs. |
| doi_str_mv | 10.1007/s11151-016-9512-5 |
| format | Article |
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| identifier | ISSN: 0889-938X |
| ispartof | Review of industrial organization, 2017-02, Vol.50 (1), p.1-25 |
| issn | 0889-938X 1573-7160 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_1878793554 |
| source | PAIS Index; EBSCOhost Business Source Complete; Jstor Complete Legacy; SpringerLink Journals - AutoHoldings |
| subjects | Competition Consumer attitudes Consumer behavior Consumers Costs Decision making Duopoly Economic models Economic theory Economics Economics and Finance Fixed costs Industrial Organization Microeconomics Oligopoly Perceptions Pricing policies Quality |
| title | If It’s All the Same to You: Blurred Consumer Perception and Market Structure |
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