Product Quality Regulation: A General Equilibrium Analysis

Richard K. Anderson and Carl E. Enomoto

Canadian Journal of Economics, 1987, vol. 20, issue 4, 735-49

Abstract: Utilizing a general equilibrium framework, this paper studies the economic effects of product-quality regulation in competitive ma rket structures. The analysis considers both the short-run and long-r un implications of such regulation upon factor rewards and allocation s and upon product price. It also characterizes the adjustment path t o a competitive long-run equilibrium. The positive relation between r egulated quality and product price is described, and identification o f who gains and who loses and how resource allocations are affected i s shown to depend upon factor intensity rankings.

Date: 1987
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