Minimum Quality Standards with More Than Two Firms Under Cournot Competition
This paper presents a study of the effects of the introduction of a Minimum Quality Standard (MQS) in a vertically differentiated market in which three identical firms compete in quantities in the short run and face quality-dependent fixed costs. In contrast to what has been shown under the assumption of Bertrand triopolistic competition (Scarpa, 1998), the introduction of an MQS has a positive effect on the average provision of quality.
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Volume (Year): VIII (2010)
Issue (Month): 3 (August)
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