ARBUS202 Lecture Notes - Lecture 8: Sentimentality
1 Mar 2016
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Sellers cannot: act fraudulently, act in bad faith, make false claims, make misleading claims. It is against this backdrop that consumers are expected to examine, judge, and test. Buyers need all the information they can get in order to make an informed decision. Sellers will want to control the information that the buyer gets. Each player has the same information and they both know it: asymmetrical: One player has more information than the other. Information harvesting: you know more about you than companies do and they don"t like that, companies will want as much information about you as they can get. Framing information: but companies will try to keep information from you, companies control how the information gets framed, quotes: These firms are profitable because they cater not so much to those who are poor, but rather to those who are extremely impatient.
