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An Instructional Exercise in Price Controls: Product Quality, Misallocation, and Public Policy

Listed author(s):
  • Weisman Dennis L.

    (Kansas State University)

  • Sanders Shane D.
  • Moundigbaye Mantobaye

    (Western Illinois University)

A price control policy has several potential effects upon market welfare. These include deadweight loss, surplus transfer from producer to consumer, misallocative cost, and quality degradation. The present article provides accessible pedagogical models with which to incorporate the former two issues into a welfare analysis of price control. The analysis allows students to form a more complete understanding of price control policies.

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File URL: https://www.degruyter.com/view/j/jioe.2012.6.issue-1/1935-5041.1043/1935-5041.1043.xml?format=INT
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Article provided by De Gruyter in its journal Journal of Industrial Organization Education.

Volume (Year): 6 (2012)
Issue (Month): 1 (December)
Pages: 1-21

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Handle: RePEc:bpj:jioedu:v:6:y:2012:i:1:p:1-21:n:6
Contact details of provider: Web page: https://www.degruyter.com

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  1. Yang-Ming Chang & Bhavneet Walia, 2007. "Wage discrimination and partial compliance with the minimum wage law," Economics Bulletin, AccessEcon, vol. 10(4), pages 1-7.
  2. A. Michael Spence, 1975. "Monopoly, Quality, and Regulation," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 417-429, Autumn.
  3. repec:ebl:ecbull:v:10:y:2004:i:9:p:1-7 is not listed on IDEAS
  4. Jamie Brown Kruse & Ozlem Ozdemir & Mark A. Thompson, 2005. "Market Forces and Price Ceilings: A Classroom Experiment," International Review of Economic Education, Economics Network, University of Bristol, vol. 4(2), pages 73-86.
  5. repec:ebl:ecbull:v:10:y:2007:i:4:p:1-7 is not listed on IDEAS
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