The DOI matches its Crossref record.
Monopoly, Quality, and Regulation
Abstract
This paper deals with market problems that arise when a monopoly sets some aspect of product quality as well as price. It is argued that the market failure is associated with the inability of prices to convey information about the value attached to quality by inframarginal consumers. In the regulatory context, this market problem appears in the form of a difficult informational question for the regulator; what is the average valuation of quality over all the consumers in the market? The paper suggests that rate-of-return regulation may have attractive features when quality is a variable.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cited by
General purpose technologies ‘Engines of growth’?
Bresnahan, T. F., & Trajtenberg, M. (1995) · Journal of Econometrics · doi:10.1016/0304-4076(94)01598-t · Cited by 2,879
Systems Competition and Network Effects
Katz, M. L., & Shapiro, C. (1994) · Journal of Economic Perspectives · doi:10.1257/jep.8.2.93 · Cited by 2,646
Fifty Years of Empirical Studies of Innovative Activity and Performance
Cohen, W. M. (2010) · Handbook of the Economics of Innovation · doi:10.1016/s0169-7218(10)01004-x · Cited by 962
Using informational labeling to influence the market for quality in food products
Caswell, J. A., & Mojduszka, E. M. (1996) · American Journal of Agricultural Economics · doi:10.2307/1243501 · Cited by 790
Francis, J. R., Michas, P. N., & Seavey, S. E. (2013) · Contemporary Accounting Research · doi:10.1111/j.1911-3846.2012.01156.x · Cited by 322
A Supply and Demand Framework for Two-Sided Matching Markets
Azevedo, E. M., & Leshno, J. D. (2016) · Journal of Political Economy · doi:10.1086/687476 · Cited by 312
Regulating Service Quality: A Survey
Sappington, D. E. M. (2005) · Journal of Regulatory Economics · doi:10.1007/s11149-004-5341-9 · Cited by 191
An economic analysis of privacy protection and statistical accuracy as social choices
Abowd, J. M., & Schmutte, I. M. (2019) · American Economic Review · doi:10.1257/aer.20170627 · Cited by 162
Metadata
- Authors
- Spence, A. M.
- Venue
- The Bell Journal of Economics
- Publisher
- JSTOR
- Published
- 1975
- Volume
- 6
- Issue
- 2
- Pages
- 417
- ISSN
- 0361-915X (ISSN-L)
- OpenAlex
- W2101782430
- Cited by
- 1,064
- References
- 0
- FWCI
- 14.13
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
