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The theory of quality regulation and self-regulation: Towards an application to financial markets

Scarpa, Carlo - 1997

In this paper we review and extend the theory of quality regulation and of self-regulation and try to see to what … investors is high and the regulator's uncertainty on the firms' costs is substantial. However, to bridge the gap between theory …

Persistent link: https://www.econbiz.de/10011608282

Provision of quality and certification intermediaries

Albano, Gian Luigi; Lizzeri, Alessandro - 1997

If buyers do not observe the quality of a product and production of quality is costly, market allocations can be very inefficient. Certification intermediaries are institutions that provide information about quality to buyers. The amount of information in the market determines the incentives...

Persistent link: https://www.econbiz.de/10011608311

Measuring willingness to pay for drinking water quality using the econometrics of equivalence scales

Carpentier, Alain; Vermersch, Dominique - 1997

The objectives of this paper are to propose and to implement for the French case an approach for the estimation of consumers' willingness to pay for tap water quality. This method is indirect and is based on the observation of the households' demands for soft drinks and bottled water. The lack...

Persistent link: https://www.econbiz.de/10011608364

Minimum quality standards and predatory behaviour

Lambertini, Luca; Scarpa, Carlo - 1999

This paper shows that the introduction of a minimum quality standard can have repercussions on market structure, opening the possibility of predatory behaviour. The predatory equilibrium exists independently of whether or not adjustment costs are present. Moreover, whenever predation is an...

Persistent link: https://www.econbiz.de/10011608549

The Music Market in the Age of Download

Grassi, Iacopo - 2007

Internet, mp3 files, peer-to-peer software and digital technologies for copying have radically modified the music sector. In this paper I present a theoretical model, that investigates the consequences of the appearance of a pirate low quality good (typically a mp3 file) in the music market. In...

Persistent link: https://www.econbiz.de/10010312268

Collective reputation, entry and minimum quality standard

Rouvière, Elodie; Soubeyran, Raphaël - 2008

This article deals with the issue of entry into an industry where firms share a collective reputation. First, we show that free entry is not socially optimal; there is a need for regulation through the imposition of a minimum quality standard. Second, we argue that a minimum quality standard can...

Persistent link: https://www.econbiz.de/10010270951

Tilting the Supply Schedule to Enhance Competition in Uniform-Price Auctions

LiCalzi, Marco; Pavan, Alessandro - 2003

Uniform-price auctions of a divisible good in fixed supply admit underpricing equilibria, where bidders submit high … the amount of divisible good on offer change endogenously with its (uniform) price. Precommitting to an increasing supply …

Persistent link: https://www.econbiz.de/10011325063

Privatisations as price reforms: Evaluating consumers' welfare changes in the UK

Brau, Rinaldo; Florio, Massimo - 2002

" theory (Drèze and Stern, 1990). By adopting this perspective, the change in consumers' welfare "with" and "without … welfare measures are subsequently used for the evaluation of the welfare effects related to price variations in seven British …

Persistent link: https://www.econbiz.de/10011335730

Price versus Quantities versus Indexed Quantities

Branger, Frédéric; Quirion, Philippe - 2014

We develop a stochastic model to rank different policies (tax, fixed cap and relative cap) according to their expected total social costs. Three types of uncertainties are taken into account: uncertainty about abatement costs, business-as-usual (BAU) emissions and future economic output (the two...

Persistent link: https://www.econbiz.de/10010491231

Price Competition with Information Disparities in a Vertically Differentiated Duopoly

Cavaliere, Alberto - 2004

differentiation, informed consumers exert a positive externality on the purchasers of the high quality good as its price decreases … when the share of informed consumers decreases. Considering also that the price of the low quality good increases with the … with pessimistic consumers we can explain demand collapses and insensitivity to price changes due to consumer suspicions …

Persistent link: https://www.econbiz.de/10011324907