Heterogeneous Learning in Product Markets
Heterogeneous Learning in Product Markets
复制标题
产品市场中的异构学习
DOI：
10.2139/ssrn.3961223
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发表时间：
2021
期刊：
影响因子：
--
通讯作者：
Hao Xing
中科院分区：
文献类型：
--
作者：
A. Kakhbod;Giacomo Lanzani;Hao Xing
我们研究了市场结构和学习技术的不对称性如何影响产品市场的交易.在这个市场上，一种未知质量的新产品被引入，以挑战已知质量的现有产品。我们表明，如果购买者在消费新产品时产生的信息量是对称的，那么在垄断和竞争条件下都能实现市场效率。相反，如果买方是不对称的，那么只有垄断市场才是有效的。我们识别了这些不确定性并分析了它们的性质。最后，我们探讨了我们的结果的鲁棒性在不同的假设下的价格歧视的能力。
We study how market structures and asymmetries in learning technologies a ff ect trade in a product market. In this market, a new product of unknown quality is introduced to challenge an existing product of known quality. We show that market e ffi ciency is achieved both under monopoly and competition if buyers are symmetric in the amount of information they generate when they consume the new product. If buyers are instead asymmetric, only the monopolistic market is e ffi cient. We identify the ine ffi ciencies and analyze their properties. Finally, we explore our results’ robustness under di ff erent assumptions about the ability to price discriminate.