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https://hdl.handle.net/2142/85547
Description
Title
Information and Markets for Credence Goods
Author(s)
Brouhle, Keith Richard
Issue Date
2004
Doctoral Committee Chair(s)
Brueckner, Jan K.
Department of Study
Economics
Discipline
Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Business Administration, Marketing
Language
eng
Abstract
The final chapter in my dissertation considers how imperfect information about credence goods impacts consumer welfare. Since consumers do not notice a change in quality of a credence good, a non-optimal consumption choice is made which impacts consumer welfare. I develop a framework to account for the welfare effects of consumer uncertainty and imperfect information of changes in product quality of credence goods. In doing so, the research also provides a measure for the value of information.
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