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来源类型Working Paper
规范类型报告
DOI10.3386/w6493
来源IDWorking Paper 6493
Effects of Information Provision in an Vertically Differentiated Market
Tasneem Chipty; Ann Dryden Witte
发表日期1998-04-01
出版年1998
语种英语
摘要We study the effects of consumer information on equlibrium market prices and observable product quality in the market for child care. Child care markets offer a unique opportunity to study these effects because of the existence of resource and referral agencies (R&Rs) in some markets. R&Rs provide consumers with information on availability, price, and observable characteristics of care. To understand the effects of information provision in markets like child care, we examine the effects of information provision in a model of vertical differentiation. We show conditions in which increased consumer information reduces price dispersion, maximum price, and average price. With this model we examine empirically the effects of R&Rs on the distribution of child care prices and on the distribution of staff-child ratios. We estimate separate models for the distribution of prices and staff-child ratios for infants, toddlers, preschoolers and school age children because of regulatory and care differences across age groups. We find that R&Rs have economically large and statistically significant effects on the distribution of prices for the care infants and toddlers. Geographic markets with R&Rs have significantly less price dispersion and lower maximum prices. There is also some evidence that markets with R&Rs have lower average prices.Information provision via R&Rs has no significant effects on staff-child ratios. These findings are generally consistent with search theory and support the contention that information provision can intensify price competition.
主题Industrial Organization ; Market Structure and Firm Performance ; Regulatory Economics
URLhttps://www.nber.org/papers/w6493
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/564013
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Tasneem Chipty,Ann Dryden Witte. Effects of Information Provision in an Vertically Differentiated Market. 1998.
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