Why Are Some Products Branded and Others Not?
基于消费者信息理论，研究品牌如何作为体验品质量的信号，并利用加油站样本验证了品牌产品更可能出现在质量欺诈问题严重、消费者搜寻成本高的市场。
Why do some consumers pay a premium for branded products? According to the consumer information theory, brands signal the quality of experience goods (products whose quality cannot be determined on inspection) to consumers for whom personal search and testing is relatively costly. We find that the product and customer mix in a sample of branded and unbranded service stations is generally consistent with the theory. Branded dealers are more likely to carry products for which cheating on quality is an issue and to serve customers for whom personal search and testing is relatively costly.