The Economics of Quality
Bibliographic Data
| ID | 10173063 |
|---|---|
| Authors | Arthur S de Vany, Thomas R Saving |
| Year | 1983 |
| Volume | 91 |
| Issue | 6 |
| Pages | 979-1000 |
| Publication date | 1983-12-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/261196 |
| OpenAlex | W2060122228 |
| Language | EN |
| Citations received | 4 |
| References cited | 5 |
This paper develops a model of quality determination where the usual competitive equilibrium conditions hold. The explicit form of quality considered is the wait required to obtain the product. The analysis, however, is much more general, being valid for products that have a characteristic, z, such that (1) demand is a function of price and a measure defined on z, (2) costs are a function of output and the measure on z, and (3) z is a function of output and capacity. Expected profit-maximizing firms, in equilibrium, look like monopolistic competitors. Once constant quality is imposed, however, the perfect competitive results obtain
Competitor analysis · Constant (computer programming · Demand curve · Economics · Function (biology · Mathematical economics · Measure (data warehouse · Microeconomics · Monopolistic competition · Monopoly · Perfect competition · Physics · Profit (economics · Quality (philosophy · Computer Science · Economic theories and models · Economic Theory and Policy · Economics of Agriculture and Food Markets
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,1 |
| Citation span | 1985 - 2005 (21) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 4 |