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The Multiproduct Firm, Quality Choice, and Regulation

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Author Info
Besanko, David
Donnenfeld, Shabtai
White, Lawrence J

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Abstract

A monopolist facing a market of heterogeneous consumers will distort the quality a rray. This paper explores three regulatory remedies-minimum quality s tandards (MQS), maximum price regulation (MPR), and rate of return re gulation (RORR)-that can counteract this distortion. MQS and MPR rais e the quality offered to consumers with a low willingness-to-pay for quality. While MQS have no effect on the quality offered to consumers with a high willingness-to-pay, MPR decreases the quality offered to this group. If production of high- (low-) quality goods is capital i ntensive, RORR increases (decreases) the quality offered to both grou ps. Copyright 1988 by Blackwell Publishing Ltd.

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Industrial Economics.

Volume (Year): 36 (1988)
Issue (Month): 4 (June)
Pages: 411-29
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Handle: RePEc:bla:jindec:v:36:y:1988:i:4:p:411-29

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  1. S. Baranzoni & P. Bianchi & L. Lambertini, 2000. "Market Structure," Working Papers 368, Dipartimento Scienze Economiche, Universita' di Bologna. [Downloadable!]
  2. Fischer, Carolyn, 2004. "Who Pays for Energy Efficiency Standards?," Discussion Papers dp-04-11, Resources For the Future. [Downloadable!]
  3. G. Ecchia & L. Lambertini, 1997. "Full vs Partial Market Coverage with Minimum Quality Standards," Working Papers 285, Dipartimento Scienze Economiche, Universita' di Bologna. [Downloadable!]
  4. Lutz, Stefan, 2003. "International Coordination of Quality Standards and Vertical Product Differentiation," ZEW Discussion Papers 03-41, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  5. Giulio Ecchia & Luca Lambertini, 1995. "Minimum Quality Standards and Collusion," Working Papers 235, Dipartimento Scienze Economiche, Universita' di Bologna. [Downloadable!]
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  6. Vincenzo Atella & Jay Bhattacharya & Lorenzo Carbonari, 2008. "Pharmaceutical industry, drug quality and regulation. Evidence from US and Italy," CEIS Research Paper 138, Tor Vergata University, CEIS, revised 16 Dec 2008. [Downloadable!]
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