Price ceilings and firm-specific quantity restrictions in posted-offer markets

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Show simple item record Kujal, Praveen 2012-05-30T08:28:58Z 2012-05-30T08:28:58Z 1999
dc.identifier.bibliographicCitation Information Economics and Policy. 1999, vol. 11, nº 4, p. 389-406
dc.identifier.issn 0167-6245
dc.description.abstract The effect of price ceilings and quantity controls in experimental posted-offer markets on market efficiency and total output is compared. Quantity controls adversely affect market performance relative to price ceilings. In the quota experiments contract and total surplus realization is lower than under equivalent price controls. Welfare outcomes, in terms of market efficiency, for price ceilings and quantity controls in a market setting are not the same, at least in the short run. Different welfare outcomes from equivalent controls are attributed to the manner in which the price and quantity search space is ‘censored’ by the price and quantity controls.
dc.description.sponsorship Thanks go to Stan Reynolds, Mark Isaac, Tim Cason, Klaus Desmet, two anonymous referees for detailed comments and the editor. Financial support for the experiments was provided by the Economic Science Laboratory, University of Arizona. The author acknowledges financial support from DGICYT grant [PB95- 287.
dc.format.mimetype text/plain
dc.format.mimetype application/pdf
dc.language.iso eng
dc.publisher Elsevier
dc.rights ©Elsevier
dc.title Price ceilings and firm-specific quantity restrictions in posted-offer markets
dc.type article PeerReviewed
dc.description.status Publicado
dc.subject.eciencia Economía
dc.identifier.doi 10.1016/S0167-6245(99)00018-9
dc.rights.accessRights openAccess
dc.type.version acceptedVersion
dc.identifier.publicationfirstpage 389
dc.identifier.publicationissue 4
dc.identifier.publicationlastpage 406
dc.identifier.publicationtitle Information Economics and Policy
dc.identifier.publicationvolume 11
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