Input Decisions and Price-Quality Schedules

David Hennessy

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: Often, a single production process gives rise to a mass distribution of quality levels. If prices vary with quality, then input use is determined by interactions between the production-quality-input use relationship and the price-quality relationship. Using the dominance methods, the way in which price-quality schedules affect optimal input choices is investigated. Integral and differential conditions on changes in schedules are found that, together with conditions on the quality-conditioned technology, are sufficient to determine changes in the intensity of input use.

Date: 1999-07-01
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Published in Southern Economic Journal, July 1999, vol. 66, pp. 168-177

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