Plott, Charles R. and Wilde, Louis L. (1980) Toward a Theory of Professional Diagnosis and Service: Consumer Behavior. Social Science Working Paper, 352. California Institute of Technology , Pasadena, CA. https://resolver.caltech.edu/CaltechAUTHORS:20140304-164416349
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Abstract
A model is developed for situations in which consumers depend upon producers of a good or service for information which has an impact on their demand. Nonsupply sources of information do not exist and consumers are forced to rely on comparisons between suppliers as their only check on potential fraud. The optimal search strategies are characterized and some of the implications for the resulting patterns of advice are analyzed.
| Item Type: | Report or Paper (Working Paper) |
|---|---|
| Group: | Social Science Working Papers |
| Series Name: | Social Science Working Paper |
| Issue or Number: | 352 |
| Record Number: | CaltechAUTHORS:20140304-164416349 |
| Persistent URL: | https://resolver.caltech.edu/CaltechAUTHORS:20140304-164416349 |
| Official Citation: | Plott, Charles R. and Wilde, Louis L. Toward a Theory of Professional Diagnosis and Service: Consumer Behavior. Pasadena, CA: California Institute of Technology, 1980. Social Science Working Paper, 352. |
| Usage Policy: | No commercial reproduction, distribution, display or performance rights in this work are provided. |
| ID Code: | 44141 |
| Collection: | CaltechAUTHORS |
| Deposited By: | Susan Vite |
| Deposited On: | 27 Mar 2014 18:27 |
| Last Modified: | 03 Oct 2019 06:14 |
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