讲座： 产品价格传递产品价格质量信号的问题（The Issue of Signaling Endogenous Product Quality via Prices in Oligopoly Models ）

In a large class of markets, the quality of a firm’s product is typically an endogenous choice and private information of the firm. Consequently, the competition structure of a market not only affects the market outcome but also the firms’ incentives to choose the quality levels of their products. We shall consider a model where multiple firms compete by first investing to determine the (private) quality levels of their products and then selling to vertically differentiated consumers. We will show that different from a monopolist in the same market, competition can induce both a positive incentive to invest in quality and more efficient market outcome. In particular, we will discuss the importance of positive correlation in R&D outcomes,

which improves positive incentives for the firms in the quality investment stage. Our analysis will identify an additional source of efficiency loss

for monopoly in terms of R&D investments.

主讲人：陈波（Associate Professor，Department of Economics ，Southern Methodist University）

主持人：汪淼军

时间：2017年5月25日9:00-11:00、15:00-17:00

地点：美高梅官方地址501