A model of vertical product differentiation is used to analyze the labeling of credence goods, focusing on the manner by which quality is communicated. The results indicate that firms prefer private labeling options. In addition, firms may hire private certifiers as well as paying for mandated...

This paper is concerned with the impact of food scares, principally the BSE crisis in the UK, and focuses on price transmission in vertically related markets. We show that if market power has an effect on the farm-retail margin, this determines the specification of the cointegrating relationship...

This paper is concerned with the impact of food scares, principally the BSE crisis, in the UK and focuses on price adjustment at different stages in a vertically-related market. From a theoretical perspective we show that if market power has an effect on the margin between retail and farm prices...