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Quality Certification Standards in Competitive Markets: When Consumers and Producers (Dis)Agree

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  • Lapan, Harvey E.
  • Moschini, GianCarlo

Abstract

A quality certification standard in a competitive setting can improve welfare but may affect consumers and producers differently. In a competitive model with quality preferences of the vertical product differentiation type, we find that producers prefer a higher (lower) quality standard than consumers if individual demand functions are log-convex (log-concave).

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Bibliographic Info

Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 13048.

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Date of creation: 12 Mar 2009
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Publication status: Published in Economics Letters, September 2009, vol. 104 no. 3, pp. 144-147
Handle: RePEc:isu:genres:13048

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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Web page: http://www.econ.iastate.edu
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Related research

Keywords: Comparative statics; log-concavity; minimum quality standards; quality certification; vertical product differentiation;

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References

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  1. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
  2. Rabah Amir & Isabelle Maret & Michael Troge, 2004. "On Taxation Pass-Through for a Monopoly Firm," Working Papers of BETA 2004-10, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  3. Lapan, Harvey E. & Moschini, GianCarlo, 2006. "Grading, Minimum Quality Standards, and the Labeling of Genetically Modified Products," Staff General Research Papers 12553, Iowa State University, Department of Economics.
  4. Uri Ronnen, 1991. "Minimum Quality Standards, Fixed Costs, and Competition," RAND Journal of Economics, The RAND Corporation, vol. 22(4), pages 490-504, Winter.
  5. Mussa, Michael & Rosen, Sherwin, 1978. "Monopoly and product quality," Journal of Economic Theory, Elsevier, vol. 18(2), pages 301-317, August.
  6. Champsaur, Paul & Rochet, Jean-Charles, 1989. "Multiproduct Duopolists," Econometrica, Econometric Society, vol. 57(3), pages 533-57, May.
  7. Leland, Hayne E, 1979. "Quacks, Lemons, and Licensing: A Theory of Minimum Quality Standards," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1328-46, December.
  8. Lapan, Harvey E. & Moschini, GianCarlo, 2007. "AJAE Appendix: Grading, Minimum Quality Standards, and the Labeling of Genetically Modified Products," American Journal of Agricultural Economics Appendices, Agricultural and Applied Economics Association, vol. 89(3), August.
  9. Tim Baldenius & Stefan Reichelstein, 2000. "Comparative statics of monopoly pricing," Economic Theory, Springer, vol. 16(2), pages 465-469.
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