A Model of Endogenous Quality Management
AbstractThis paper is concerned with product quality, defined as a kind of durability. Existing models of product quality (in the sense considered here) depend on the idea of signalling, itself driven by an informational asymmetry dictated by “Nature”. The paper proposes an alternative approach, which endogenises the quality managment process. A model is developed which is applicable to the markets for consumer durables and for some intermediate goods. Both competitive and monopolistic markets are considered, and some comparative static results are obtained.
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Bibliographic InfoPaper provided by Edinburgh School of Economics, University of Edinburgh in its series ESE Discussion Papers with number 5.
Date of creation: Dec 1998
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