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Then retailer 1 sells the products 1 and 2 to the customers.
When, firm 1 sells to consumers with high degree of guilt while firm 2 sells to consumers with a degree of guilt below.
Proposition 1 Let 2d - s ≤ 0. In equilibrium, firm 2 chooses a price p 2 = s - d, and firm 1 sells nothing.
However, in equilibrium, all consumers obtain a level of net utility above 1 when they patronize firm 2. Thus, firm 1 sells nothing.
Its suite of characteristics white skin, disheveled hair, stooped posture, vacant expression (the classic characteristics developed by artists such as Zdenek Burian, see Fig. 1)—sells and transports efficiently as an icon.
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