CONSUMER REACTION TO MEASURES OF POOR QUALITY - EVIDENCE FROM THE MUTUAL FUND INDUSTRY
CONSUMER REACTION TO MEASURES OF POOR QUALITY - EVIDENCE FROM THE MUTUAL FUND INDUSTRY
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DOI：
10.1086/467244
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发表时间：
1992-04-01
影响因子：
2.2
通讯作者：
IPPOLITO, RA
中科院分区：
文献类型：
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作者：
IPPOLITO, RA
除非质量在销售点显而易见，否则市场必须想方设法确保交付高质量的产品；否则，生产者就会有动力以高质量的价格出售低质量的商品，从而导致退化均衡。 1 针对这一问题，人们提出了多种解决方案，其中大多数都围绕着粘合机制。 2 然而，要使债券发挥作用，消费者必须对交付的质量低于承诺的情况做出反应。 3 一般而言，消费者发现低质量产品并对其做出反应的速度越快，市场提供高质量产品的效率就越高。 4 尽管在理论文献中很突出，但消费者对质量低于承诺的反应的直接证据却很少被测量。这是一个缺点，大概是由于难以衡量预期和实际产品质量之间的差异以及
Unless quality is apparent at the point of sale, the market must find ways to ensure the delivery of high-quality products; otherwise, producers have incentives to sell low-quality goods at high-quality prices, thereby assuring a degenerate equilibrium. 1 Various solutions to this problem have been proposed, most revolving around bonding mechanisms. 2 For bonds to work, however, consumers must react to the delivery of less-than-promised quality. 3 In general, the faster consumers detect and react to delivery of low-quality products, the more efficient the market is in delivering high-quality products. 4 Despite its prominence in the theoretical literature, direct evidence of consumer response to less-than-promised quality is rarely measured. This is a shortcoming presumably attributable to the difficulty of measuring both the difference between expected and actual product quality and