This paper studies the effect of non-compliance with a minimum quality standard on prices, quality, and welfare in a vertical differentiation model. Non-compliance with a minimum quality standard by a low-quality firm reduces quality levels of both firms and shifts demand from the low-quality to...

This paper studies the effect of a minimum quality standard, a compulsory labeling scheme, and the combination of both instruments in a vertical differentiation model when not all quality dimensions of products can be observed by consumers. Both a minimum quality standard on the non-observable...

Genuine ecotourism can have many positive impacts. This book considers the topic of quality control and accreditation in ecotourism, describing the mechanisms that can be implemented to ensure quality in various aspects of the industry, namely protected areas, businesses, products and tour guides.

In this paper, a spatial price equilibrium model with information asymmetry in quality is developed. Producers at the supply markets are aware of the quality of their products, whereas consumers, located at the demand markets, are aware only of the average quality of the products that are...

In a market where sellers solicit certification to overcome asymmetric information, we show that the profit of a monopolistic certifier can be hump-shaped in its reputation for accuracy: a higher accuracy attracts high-quality sellers but sometimes repels low-quality sellers. As a consequence,...

This paper estimates an individual level demand model for eggs differentiated by animal welfare. Typically, after minimum quality standards for eggs are raised, the price of higher quality eggs falls. As a result, consumer welfare is redistributed from households who do not value animal welfare...

This paper studies how decentralized information management affects asset quality uncertainty and consumer welfare. We show that quality certification improves transparency but has a non-monotonic impact on trading activity and the fee for certification. Thus, when a single agent serves as a...

In the third essay I show that the existence of homogeneous products in a market depends on choices made by firms. If search costs are small or the proportion of consumers who search costlessly (shoppers) is large, firms have incentives to differentiate themselves vertically. On the other hand,...

"Admission for MBA means admission for big money", Is this true? Indian economy is creating a serious demand for high –quality managers to oversee the national's growing business. That makes pursuing an MBA a Value added and that ensure a young star a fast return on investment. Today young...