Price and Quality in a New Product Monopoly
构建消费者行为信号提取模型，证明在新产品垄断下，即使不同质量产品无成本差异，高价也能传递高质量信号；高质量产品预期利润更高，垄断者有动力进行短暂质量改进，且其市场研究投入超过社会最优水平。
In a signal-extraction model of consumer behaviour, higher prices signal higher-quality products for a new product monopoly, even without cost asymmetries across different qualities. Moreover, higher-quality products earn greater expected profits, and the monopolist has an incentive to provide even transient improvements in quality. Finally, the monopolist has a positive incentive to conduct market research about quality, and produces more information than is socially optimal.