Quality Premiums and the Competitive Firm's Production Decision

David Hennessy and Stephen Devadoss

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

Abstract: The impact of price-quality schedule changes on the 'optimal input choice' of producers which subscribe to a minimum quality standard is investigated using the stochastic dominance method. In addition, the effects of a transition from a fixed price schedule to a quality-dependent price schedule are examined. The correlations between production technology, a minimum quality standard and price levels needed to ensure that total and marketed output remains the same are also discussed.

Date: 1995-07-01
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Published in Southern Economic Journal, July 1995, vol. 62, pp. 107-115

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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:5262

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