@article{oai:nagoya.repo.nii.ac.jp:00021306,
 author = {Martín-Rodríguez, María},
 issue = {E15-8},
 journal = {Economic Research Center Discussion Paper},
 month = {Dec},
 note = {I analyze the dynamic problem of a monopolist facing different masses of risk- averse consumers in two periods. All qualities are equally costly and the true quality is uncertain for all the agents in the first period. I find that a semi-separating equilibrium is sustainable in the second period if the first-period market share is strictly positive due to social learning. Increasing patterns of prices may arise when low qualities are revealed, but this outcome is less likely with less risk-averse consumers. The welfare analysis suggests that the authority could only help when the consumers were not very risk averse.},
 title = {A Dynamic Monopoly with Experience Goods and Risk-Averse Consumers},
 year = {2015}
}