LISTING PRICES AS SIGNALS OF QUALITY IN MARKETS WITH NEGOTIATION*
研究了买家可选择按标价购买或谈判的市场，发现标价能传递质量信号以吸引合适买家，高质量商品更常通过谈判成交。
We analyze markets where a buyer may pay the listing price or negotiate. We show that listing prices can signal quality to attract the right type of buyers. Prices are lower without quality uncertainty or without some of the lower qualities. In equilibrium, higher qualities/prices induce more bargaining, and thus more expensive goods are sold more often through bargaining.