Rational Rationing
研究了在质量难以观察的市场中，消费者通过产出质量的噪音观察来学习企业质量，导致低价格可能传递高质量信号，高质量企业初期会配给需求。
Quantity rationing is often observed to occur in actual markets where quality is difficult to observe. Standard theory suggests such markets must be in disequilibrium, since firms could increase profits by raising price. This paper develops a model in which consumers learn about firm quality from noisy observations of output quality. In equilibrium, quantity rationing may occur in which low price signals high quality (and vice versa), and high-quality firms ration demand initially. Examples are luxury cars and fine restaurants. Copyright 1991 by The London School of Economics and Political Science.