The good, the bad, and the complex: product design with imperfect information

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• dc.contributor.author Asriyan, Vladimir
• dc.contributor.author Foarta, Dana
• dc.contributor.author Vanasco, Victoria
• dc.date.accessioned 2024-03-18T11:20:48Z
• dc.date.available 2024-03-18T11:20:48Z
• dc.date.issued 2023
• dc.description Includes supplementary materials for the online appendix.
• dc.description.abstract We study the joint determination of product quality and complexity. In our model complexity affects how difficult it is for an agent to acquire information about product quality. An agent can accept or reject a product proposed by a designer, who can affect the quality and the complexity of the product. We find that complexity is not a necessary feature of low-quality products. An increase in designer–agent alignment leads to more complex but better-quality products. However, higher product demand or lower competition among designers leads to more complex and lower-quality products. We relate our findings to the existing empirical evidence.
• dc.description.sponsorship Asriyan and Vanasco acknowledge financial support from the Spanish Ministry of Economy and Competitiveness through the Severo Ochoa Programme for Centres of Excellence in R&D (CEX2019-000915-S) and from the Generalitat de Catalunya through the CERCA and SGR Programme (2017-SGR-13933). Asriyan acknowledges financial support from the Spanish State Research Agency and the European Social Fund (RYC2019-027607-I/AEI/10.13039/501100011033). Vanasco acknowledges financial support from the European Research Council under the European Union’s Horizon 2020 research and innovation program (INFOMAK—948432).
• dc.format.mimetype application/pdf
• dc.identifier.citation Asriyan V, Foarta D, Vanasco V. The good, the bad, and the complex: product design with imperfect information. Am Econ J Microecon. 2023 May;15(2):187-226. DOI: 10.1257/mic.20210114
• dc.identifier.doi http://dx.doi.org/10.1257/mic.20210114
• dc.identifier.issn 1945-7669
• dc.identifier.uri http://hdl.handle.net/10230/59454
• dc.language.iso eng
• dc.publisher American Economic Association
• dc.relation.ispartof American economic journal: microeconomics. 2023 May;15(2):187-226
• dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/948432
• dc.relation.projectID info:eu-repo/grantAgreement/ES/2PE/CEX2019-000915-S
• dc.rights © American Economic Association. Can be found at https://www.aeaweb.org/articles?id=10.1257/mic.20210114.
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.title The good, the bad, and the complex: product design with imperfect information
• dc.type info:eu-repo/semantics/article
• dc.type.version info:eu-repo/semantics/publishedVersion