06/03/2006

"Innocuous" Minimum Quality Standards

Authors: Garella Paolo G.
Views: 1429
Published in: Forthcoming in Information Economics and Policy
The present note shows that "innocuous" Minimum Quality Standards, namely below the lowest quality in a market, may have effects on equilibrium outcomes. Such a MQS reduces the incentive to invest in R&D by the quality-leading firm.
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