000			01103nam a22001457a 4500
999			_c522419 _d522419
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100			_aGonzaalez, Jose L. M. and Sun,Yajie _939723
245			_aProduct quality and consumer search
260			_aAmerican Economic Journal: Microeconomics
300			_a15(1), Feb, 2023: p.117-141
520			_aAn increase in quality shifts up the distribution of match utilities offered by firms and makes consumers pickier. The number of products that consumers inspect does not necessarily increase in quality. Higher search costs may lead to less quality investment, and the equilibrium price may decrease. If the equilibrium is inefficient, it is because of the inadequacy of quality investment. The market level of quality investment is excessive (insufficient) and consumers are too (little) picky from the point of view of welfare maximization if and only if a rise in quality results in consumers inspecting a higher (lower) number of products.- Reproduced
773			_aAmerican Economic Journal: Microeconomics
906			_aCONSUMERS
942			_cAR