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Counterfeit-Product Trade

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  • Grossman, Gene M
  • Shapiro, Carl

Abstract

The authors analyze trade in both legitimate and counterfeit products. Domestic firms ow n trademarks and establish reputations for delivering high-quality pr oducts in a steady-state equilibrium. Foreign suppliers export legiti mate low-quality merchandise and counterfeits of domestic brand-name merchandise. Heterogeneous home consumers either purchase low-quality imports or brand-name products, rationally expecting some degree of counterfeiting of the latter. The authors describe the positive and normative effects of counterfeiting in comparison with a no-counterfe iting benchmark. They also provide a welfare analysis of border inspe ction policy and of policy regarding the disposition of counterfeit g oods that are confiscated at the border. Copyright 1988 by American Economic Association.

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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 78 (1988)
Issue (Month): 1 (March)
Pages: 59-75

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Handle: RePEc:aea:aecrev:v:78:y:1988:i:1:p:59-75

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  1. Carl Shapiro, 1982. "Consumer Information, Product Quality, and Seller Reputation," Bell Journal of Economics, The RAND Corporation, vol. 13(1), pages 20-35, Spring.
  2. Franklin Allen, 1984. "Reputation and Product Quality," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 311-327, Autumn.
  3. Shapiro, Carl, 1983. "Premiums for High Quality Products as Returns to Reputations," The Quarterly Journal of Economics, MIT Press, vol. 98(4), pages 659-79, November.
  4. Klein, Benjamin & Leffler, Keith B, 1981. "The Role of Market Forces in Assuring Contractual Performance," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 615-41, August.
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