Information and Consumer Behavior

@article{Nelson1970InformationAC,
  title={Information and Consumer Behavior},
  author={Phillip J. Nelson},
  journal={Journal of Political Economy},
  year={1970},
  volume={78},
  pages={311 - 329}
}
  • P. Nelson
  • Published 1 March 1970
  • Business, Economics
  • Journal of Political Economy
Consumers are continually making choices among products, the consequences of which they are but dimly aware. Not only do consumers lack full information about the prices of goods, but their information is probably even poorer about the quality variation of products simply because the latter information is more difficult to obtain. One can, for example, readily determine the price of a television set; it is more difficult to determine its performance characteristics under various conditions or… 

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In the paper study the peculiarities of the formation the consumer demand for durable goods, the so-called «experience goods» in markets with asymmetric information. In the known literature sources

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Quality Uncertainty, Search, and Advertising

consumers. In this paper, we begin to remedy this omission by developing a formal model that shows how risk affects the decisions of riskaverse consumers regarding the amount of search and whether or

Demand and Supply Determinants of Advertising Intensity Among Convenience Goods

During the past fifteen years, considerable attention has been given by economists to advertising. Porter [9] and Nelson [6] recognized that the use of advertising by producers and its effect on
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