Revisiting minimum-quality standards

Minimum Quality Standards and consumers’ information

The literature so far has analyzed the effects of Minimum Quality Standards in oligopoly, using models of pure vertical differentiation, with only two firms, and perfect information. We analyze products that are differentiated horizontally and vertically, with imperfect consumers information, and more than two firms. We show that a MQS changes the consumers’ perception of produced qualities. Th...

Minimum Quality Standards, Industry Self Regulation, and Economic Welfare

We analyze the impact of an endogenous minimum quality standard (MQS) imposed on an industry collectively by producers based upon a profit criterion, a situation common to agricultural industries. A MQS can enhance net welfare in these settings because it may correct for deficient production of high-quality product by the industry in the absence of a MQS. However, we show that any MQS imposed v...

Spatial Price Equilibrium with Information Asymmetry in Quality and Minimum Quality Standards

A spatial price equilibrium model with information asymmetry in quality is developed in both static and dynamic versions. 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 shipped to their demand markets. Minimum quality standards are also captured in order ...

Minimum standards of anorectal manometry.

Functional disorders of the anus and rectum affect 10–20% of the population. Tests of anorectal function can provide useful information regarding the pathophysiology of disorders that affect continence and defecation or those that cause anorectal pain. Currently, several tests are available for evaluating anorectal function (Table 1). Often, they complement each other, but among the various tes...

Minimum Standards for Church Archives