Article1979

MARKET STRUCTURE, DURABILITY, AND QUALITY: A SELECTIVE SURVEY

129 citations0/0 files storedEconomic Inquiry

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Merger and Competition Analysis Global trade and economics Consumer Market Behavior and Pricing

Abstract

This essay provides an expository survey of that branch of the theoretical literature on product quality determination which assumes that quality can be represented by a scalar. The bulk of the work discussed associates that scalar with durability. Peter Swan's result that market structure has no impact on quality is derived in a straightforward way, and the assumptions on which it rests are identified and discussed. The consequences of relaxing these assumptions, as revealed by the subsequent literature, are described. The general implications of the durability literature are summarized.

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References

1966A New Approach to Consumer Theory 1975MONOPOLISTIC COMPETITION AND OPTIMUM PRODUCT DIVERSITY 1976A New Approach to Consumer Theory 1972Durability and Monopoly 1976Product Selection, Fixed Costs, and Monopolistic Competition 1975Monopoly, Quality, and Regulation 1982Durable-Goods Monopolists 1976Optimal Advertising and Optimal Quality

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