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| Author: | Sairamesh, J. Kephart, J. |
| Title: | Price dynamics and quality in information markets |
| Journal: | Decision Support Systems
2000 : MAR, VOL. 28:1,2, p. 35-48 |
| Index terms: | DECISION SUPPORT SYSTEMS INFORMATION QUALITY |
| Language: | eng |
| Abstract: | The authors explore the price dynamics of a vertically differentiated market in which two or more sellers compete to provide an information good or service to a population of buyers. Each seller offers the good or service at a fixed level of "quality", and attempts to set its price in such a way that it maximizes its own profit. Five different seller pricing strategies, ranging widely from ones that require perfect knowledge and unlimited computational power to ones that require very little knowledge or computational power, are employed in two different buyer populations. |
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