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Strategic Interaction and Markets$
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Jean J. Gabszewicz

Print publication date: 2000

Print ISBN-13: 9780198233411

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198233418.001.0001

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Imperfect Information

Imperfect Information

Chapter:
(p.63) 5 Imperfect Information
Source:
Strategic Interaction and Markets
Author(s):

Jean J. Gabszewicz

Publisher:
Oxford University Press
DOI:10.1093/0198233418.003.0005

Concentrates on the consequences on the market solution of abandoning the perfect information assumption. Though this constitutes a broad topic not yet completely elucidated by theory, we limit ourselves to two illustrations. The first examines the effects of consumers’ imperfect information about prices on the market solution and the second is devoted to the same problem assuming now that consumers are not perfectly informed on the quality of the rival products.

Keywords:   imperfect information, prices, product quality

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