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When Bad Quality is Good Policy
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1987 (English)Report (Other academic)
Abstract [en]

We investigate product quality under different market forms (monopoly vs. perfect competition) and under different risk-sharing regimes (replacement warranty vs. no warranty). Because of our particular representation of quality we can determine optimal quality and optimal risk-sharing within one single model. Quality differes between risk-sharing regimes and not between market forms, but the market form determines optimal risk-sharing and therefore optimal quality. it can be optimal to place all risk with the risk-averse consumer instead of with the risk-neutral prducer(s). Given the market form, the risk-sharing regime that is optimal for the producer(s) is also optimal for the consumers.

Place, publisher, year, edition, pages
Stockholm: IIES , 1987. , p. 38
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 388
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41569OAI: oai:DiVA.org:su-41569DiVA, id: diva2:331199
Available from: 2010-07-21 Created: 2010-07-21 Last updated: 2010-07-21Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf