Upgrading Low Quality Goods with Emphasis on Asymmetric Information
Today, despite widespread presence of low-quality goods in many markets and that many producers have the ability to improve the quality of their product, but They are reluctant to improve their quality. This article uses information economy to identify the reasons for this and tries to eliminate them and to improve the quality of products. The results show that information asymmetry in the market is a major reason for the widespread presence of low quality products on the market. According to The results using brand and branding are recommended by producers in order to disclose information for consumers and prevent of adverse selection.