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Product Differentiation in a Regulated Market: A Welfare Analysis

✍ Scribed by Hamid Hamoudi; Isabel Rodriguez; Marcos Sanz Martín-Bustamante

Publisher
Springer US
Year
2011
Tongue
English
Weight
48 KB
Volume
17
Category
Article
ISSN
1083-0898

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✍ Tim S. Campbell; Yuk-Shee Chan; Anthony M. Marino 📂 Article 📅 1991 🏛 Springer US 🌐 English ⚖ 690 KB

This paper studies a monopoly firm with the ability to conduct costly pre-market testing of its product in order to predict how safe this product is to consume. While there are private incentives to test, the amount of testing effort supplied by a monopolist need not be optimal. In a model which all