Quality Uncertainty and Perception

1. Front Matter

   Pages i-xiv

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2. Introduction

   • Lalit Wankhade, Balaji Dabade

   Pages 1-12

3. Quality Uncertainty Due to Information Asymmetry

   • Lalit Wankhade, Balaji Dabade

   Pages 13-25

4. Perceived Quality Through Time

   • Lalit Wankhade, Balaji Dabade

   Pages 27-34

5. Quality Uncertainty and Quality Perception

   • Lalit Wankhade, Balaji Dabade

   Pages 35-56

6. Root Cause and Failure Analysis of Quality Uncertainty

   • Lalit Wankhade, Balaji Dabade

   Pages 57-81

7. Dynamics of Quality Perception

   • Lalit Wankhade, Balaji Dabade

   Pages 83-117

8. Future Directions of Quality Perception

   • Lalit Wankhade, Balaji Dabade

   Pages 119-126

9. Back Matter

   Pages 127-137

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It has been observed that the studies of quality are pursued in various disciplines like economics, quality management, and marketing science, and are seen isolated. The treatments imparted to these studies are also different and has the backdrop of discipline in which the work has been pursued. The nature of isolation is equally seen when quality uncertainty and perceived quality were pursued separately without showing any inkling that these can be complimentary. Economist and Nobel Laureate, Akerlof (1970), wrote a seminal piece “The market for lemons: quality uncertainty and market mechanism”, where he described quality uncertainty due to information asymmetry. It refers to the fact that a party in a transaction may have more information than the other. This is information asymmetry. If the seller has more information than the buyer about the product quality, he/she may sell it, as if it is a high-quality product. In reality, it could be a low-quality product. The buyer does not have the information regarding the quality of the offered product. The market condition that led to this transaction is quality uncertainty due to information asymmetry.

• Mapping
• Marketing
• Quality Uncertainty
• Received Quality
• Root Cause and Failure Analysis
• System Dynamics
• Total Quality Management
• total quality management (TQM)
• Engineering Economics

• Engineering & Technology, Dept. Production Engineering, SGGS Institute of, Nanded, India

  Lalit Wankhade, Balaji Dabade

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