Problema 7 · Economia de L'empresa UPF Setembre 2012
Tema: Qualitat, reputació i béns d'experiència i de confiança · Del examen Setembre (2012)
Enunciado
Short Question 7 (6 points). Food Safety: Confidence Goods vs. Experience Goods
In 1996, the scientific revelation that Bovine Spongiform Encephalopathy ("Mad Cow Disease") could be transmitted to human beings caused widespread fatalities. Deciding whether a food item is safe for consumption falls into the category of a confidence (credence) good rather than an experience good.
Is this statement True or False ? Justify your conclusion.
True
False
Solución
Según los criterios oficiales de corrección
Is this statement True or False?
Solución: True
Justify your conclusion.
Solución: Goods are classified by how consumers discover their quality. Experience goods have attributes observable upon consumption, whereas confidence (credence) goods have attributes that cannot be evaluated by the consumer even after consumption (or develop after very long periods). Because prions cannot be detected by sight, taste, or ordinary consumption, safety constitutes a confidence good.
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