Strategic Choice of Quality When Quality is Costly: The Persistence of the High-Quality Advantage
通过两阶段垂直产品差异化模型证明，在质量固定成本为凸函数时，第一阶段选择高质量的企业总能获得更高利润，该结论适用于同时和序贯质量选择博弈。
In a two-firm, two-stage model of vertical product differentiation, I show that for every convex fixed-cost function of quality, the firm that chooses the higher quality at the first stage earns the higher profits. The result holds for the pure-strategy equilibrium in the simultaneous-quality game, and it holds as well if firms choose their qualities in sequential order.