This book provides a systematic presentation of new microeconomic theories of imperfect information.(1985) constructs a two-period model, in which a car is new in the first period and used in the second. In each ... Maintenance on a used car is assumed to have no effect on quality, so that the quality of a used car depends only on the level ofanbsp;...
|Title||:||The Economics of Imperfect Information|
|Publisher||:||Cambridge University Press - 1988|