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Emergence of product differentiation from consumer heterogeneity and asymmetric information

descriptionPublicationkeyboard_double_arrow_right Article , Preprint , Journal , Other literature type 01 Jul 2008Embargo end date: 01 Jan 2008 Switzerland Publisher:Springer Science and Business Media LLCJournal:The European Physical Journal B, volume 64, pages 293-300 (issn: 1434-6028, eissn: 1434-6036,

Authors: Linyuan Lü; Linyuan Lü; Damien Challet; Yi-Cheng Zhang; Yi-Cheng Zhang; Matúš Medo;

doi: 10.1140/epjb/e2008-00289-3 , 10.48550/arxiv.0804.1229

arXiv: http://arxiv.org/abs/0804.1229 , 0804.1229

Emergence of product differentiation from consumer heterogeneity and asymmetric information

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Abstract

We introduce a fully probabilistic framework of consumer product choice based on quality assessment. It allows us to capture many aspects of marketing such as partial information asymmetry, quality differentiation, and product placement in a supermarket.

12 pages, 12 figures

Country

Switzerland

Related Organizations

Beijing Normal University
China (People's Republic of)
University of Electronic Science and Technology of China
China (People's Republic of)
University of Fribourg
Switzerland
Beijing Normal University
China (People's Republic of)
Institute for Scientific Interchange
Italy

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Keywords

Physics - Physics and Society, Quantitative Finance - Trading and Market Microstructure, FOS: Physical sciences, Physics and Society (physics.soc-ph), Trading and Market Microstructure (q-fin.TR), FOS: Economics and business, 89.65.Gh Economics; econophysics, financial markets, business and management, 89.75.-k Complex systems,, Quantitative Finance - General Finance, General Finance (q-fin.GN)

6 Research products, page 1 of 1

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