| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12326 |
| DP12326 Word of Mouth Communication and Search | |
| Yves Zenou; Arthur Campbell; Matthew Leister | |
| 发表日期 | 2017-09-22 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | In many economic contexts, the most credible source of information about the quality of products is one's friends. In this paper, we develop a word-of-mouth model of search for an experience good where the quality is unknown. We find the characteristics of the social net- work that result in exclusively low quality, a mixture of qualities and exclusively high-quality products. When consumer search is costly, an exclusively high-quality equilibrium is not possible. Moreover, markets may become stuck in a low-quality equilibrium when equilibria with better quality are possible. Market inefficiencies are characterized by an under-investment in friends and a market's misallocation of low-quality firms. |
| 主题 | Industrial Organization |
| 关键词 | Social Networks Search Giant component Inefficiencies |
| URL | https://cepr.org/publications/dp12326 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541136 |
| 推荐引用方式 GB/T 7714 | Yves Zenou,Arthur Campbell,Matthew Leister. DP12326 Word of Mouth Communication and Search. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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