文章基本信息

标题：Consumer confusion and multiple equilibria
本地全文：下载
作者：Stéphan Marette
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2010
卷号：30
期号：2
页码：1120-1128
出版社：Economics Bulletin
摘要：This paper focuses on consumer confusion when firms may choose between credible and non-credible certification systems for signalling quality. It is shown that the presence of confused consumers leads to the emergence of multiple stable equilibria, in which either all firms select the credible certification or all firms select the non-credible certification. A situation with numerous confused consumers is characterized by the complete absence of credible certification