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Public Regulation as a Substitute for Trust in Quality Food Markets: What if the Trust Substitute cannot be Fully Trusted?

  • Giovanni Anania
  • Rosanna Nisticò

Most food products can be classified as credence goods, and regulations exist to provide consumers with a substitute for the lacking information and trust. Rather than having no regulation in place, producers of high-quality goods are better off when a compromise is reached that leads to an imperfect regulation. Some of the producers of low-quality goods benefit by cheating under a not fully credible regulation. Even producers of low-quality goods who will never label their products as being of high quality may profit from the introduction of an imperfect regulation.

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Article provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.

Volume (Year): 160 (2004)
Issue (Month): 4 (December)
Pages: 681-

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Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200412)160:4_681:praasf_2.0.tx_2-i
Contact details of provider: Web page: http://www.mohr.de/jite

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