An instructional exercise in price controls: Product quality, misallocation, and public policy

Dennis L. Weisman; Shane D. Sanders; Mantobaye Moundigbaye

doi:10.1515/1935-5041.1043

An instructional exercise in price controls: Product quality, misallocation, and public policy

Dennis L. Weisman, Shane D. Sanders, Mantobaye Moundigbaye

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

A price control policy has several potential effects upon market welfare. These include deadweight loss, surplus transfer from producer to consumer, misallocative cost, and quality degradation. The present article provides accessible pedagogical models with which to incorporate the former two issues into a welfare analysis of price control. The analysis allows students to form a more complete understanding of price control policies.

Original language	English (US)
Journal	Journal of Industrial Organization Education
Volume	6
Issue number	1
DOIs	https://doi.org/10.1515/1935-5041.1043
State	Published - Dec 2012
Externally published	Yes

Keywords

Misallocation
Price controls
Product quality

ASJC Scopus subject areas

Business and International Management
Education
Industrial relations

Access to Document

10.1515/1935-5041.1043

Cite this

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abstract = "A price control policy has several potential effects upon market welfare. These include deadweight loss, surplus transfer from producer to consumer, misallocative cost, and quality degradation. The present article provides accessible pedagogical models with which to incorporate the former two issues into a welfare analysis of price control. The analysis allows students to form a more complete understanding of price control policies.",

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An instructional exercise in price controls: Product quality, misallocation, and public policy

Abstract

Keywords

ASJC Scopus subject areas

Access to Document

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