Key points are not available for this paper at this time.
This article presents a theory of such phenomena as coupons valid for the next purchase of a good and high initiation fees for clubs. In these cases the price of a nondurable good is lowered for second-time buyers. We show here that this can be explained by a model in which a monopolist sells a good, and the buyers are uncertain of their taste for the product but not of the quality of the product per se.
Jacques Crémer (Sun,) studied this question.
Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context: