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- W2023124401 abstract "This paper analyzes the impact of a price ceiling on a competitive market for a good which yields a utility-bearing characteristic. The household characteristic-producing technology is linear. Firms have U-shaped cost curves in quantity and in total amount of characteristic produced. Essentially, the market is cleared by an (equilibrium) hedonic price. The hedonic price rises in response to the excess demand gap induced by a ceiling on output price, bringing the market from an unconstrained equilibrium into a constrained equilibrium. A price ceiling also leads to a fall in quality, a fall in consumer welfare, and locally a rise in producer welfare." @default.
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- W2023124401 date "1983-11-01" @default.
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- W2023124401 title "Price ceilings in competitive markets with variable quality" @default.
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- W2023124401 doi "https://doi.org/10.1016/0047-2727(83)90069-5" @default.
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