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Minimum Quality Standards and Consumers Information Author info | Abstract | Publisher info | Download info | Related research | Statistics Paolo Garella () (University of Milano, Italy)
Emmanuel Petrakis () (Department of Economics, University of Crete, Greece)
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The literature so far has analyzed the effects of Minimum Quality Standards in oligopoly, using models of pure vertical differentiation, with only two firms, and perfect information. We analyze products that are differentiated horizontally and vertically, with imperfect consumers information, and more than two firms. We show that a MQS changes the consumers’ perception of produced qualities. This increases the firms’ returns from quality enhancing investments, notwithstanding contrary strategic effects. As a consequence, MQS policies may be desirable as both, firms and consumers, can gain. This contrasts with previous results in the literature and provides a justification for the use of MQS to improve social welfare.
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Paper provided by University of Crete, Department of Economics in its series Working Papers with number
0510.
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Length: 19 pages
Date of creation: 16 Feb 2005Date of revision:
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Keywords: Minimum Quality Standards ; Imperfect Consumer Information ; Other versions of this item:
Find related papers by JEL classification: L0 - Industrial Organization - - General L5 - Industrial Organization - - Regulation and Industrial Policy
This paper has been announced in the following NEP Reports :
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
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