Darby, Michael R. <br/><br/>
Qualitative Information, Reputation, and Monopolistic Competition / 
Michael R. Darby, John R. Lott, Jr.. 
 - Cambridge, Mass.  National Bureau of Economic Research  1975. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w0095 .
 - Working Paper Series (National Bureau of Economic Research)  no. w0095. .
<br/><br/> July 1975. 
<br/><br/> Much recent research in the economics of information has analyzed the implications of alternative market structures in the presence of qualitative characteristics which cannot be accurately and objectively measured or described. This approach avoids the more basic question of the influence of qualitative information on the emergence of market structures. This paper argues that market structures arise which minimize total average production and information costs and that qualitative characteristics produce structures utilizing reputation. 
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