Seminar Series

2023 - 2024

Speaker: Flavio Toxvaerd (U of Cambridge).

Title: “Manufacturer Certification in Second-Hand Markets”.

joint with M. Ashfaq (U of Cambridge).

Date: Thursday, October 12th at 12h30 (Paris Time).

Abstract:  We analyse an overlapping generations model of manufacturer certification in durable goods markets with asymmetric information about the quality of used goods. The functioning of second-hand markets has two effects on markets for new goods, a substitution and a resale value effect. Through certification, manufacturers reduce adverse selection in second-hand markets and extract resulting rents through the markets for new goods. Certification may increase profits at the expense of social welfare, by increasing average quality while decreasing trading volume. Manufacturers may be willing to subsidise certification to increase profits on new goods and thus have an advantage over third-party certifiers.

Here is, a link to the speaker’s and the FEELab website:

https://sites.google.com/site/toxvaerd11/

https://sites.google.com/view/feelabtbs/

You are cordially invited to participate in the seminar, which will take place in Room 321, Lascrosses building. 

For more information, please contact: Pierre Mella-Barral p.mella-barral@tbs-education.fr