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- W562869938 abstract "This article draws on and expands my earlier empirical study of the rare coin grading industry (Cobin 1997). Major additional contributions are to (1) show the significant and important changes in the market during the last two decades (different firms, improved services, and greater competition); (2) add important and essential information that was missing or unknown due to innovations that have occurred in a now much more mature market; (3) vastly improve the tables with more data and comparative statistics that support the case for market regulation; and (4) provide details of the historical development of the industry. This updated study confirms that the industry provides high-quality, market-based regulation at low cost for the multibillion-dollar rare coin marketplace. Ease of entry has have permitted dozens of firms to compete, forcing the current 13 survivors to improve quality. Prices for the best firms’ services remain low even though higher than in 1994 because of quality improvements. As a result, a strong case can be made for replacing government “public interest” regulation with more efficient market-based regulation, which emerges spontaneously to satisfy consumer demand." @default.
- W562869938 created "2016-06-24" @default.
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- W562869938 date "2014-09-22" @default.
- W562869938 modified "2023-09-27" @default.
- W562869938 title "Rare Coin Grading: A Case of Market-Based Regulation" @default.
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