Emergence of product differentiation from consumer heterogeneity and asymmetric information

Lü, L.; Medo, Matúš; Zhang, Yi-Cheng; Challet, Damien

doi:10.1140/epjb/e2008-00289-3

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Journal article

Emergence of product differentiation from consumer heterogeneity and asymmetric information

Lü, L. Department of Systems Science, School of Management, Beijing Normal University, China - Lab of Information Economy and Internet Research, University of Electronic Science and Technology of China, Chengdu, China
Medo, Matúš Physics Department, University of Fribourg, Switzerland
Zhang, Yi-Cheng Lab of Information Economy and Internet Research, University of Electronic Science and Technology of China, Chengdu, China - Physics Department, University of Fribourg, Switzerland
Challet, Damien Physics Department, University of Fribourg, Switzerland - Institute for Scientific Interchange, Turin, Italy

25.07.2008

Published in:

The European Physical Journal B. - 2008, vol. 64, no. 2, p. 293-300

English 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.

Faculty

Faculté des sciences et de médecine

Department

Département de Physique

Language