G2TT
来源类型Discussion paper
规范类型论文
来源IDDP8284
DP8284 Quality competition with profit constraints: Do non-profit firms provide higher quality than for-profit firms?
Kurt Richard Brekke; Luigi Siciliani
发表日期2011-03-07
出版年2011
语种英语
摘要In many markets, such as education, health care and public utilities, firms are often profit-constrained either due to regulation or because they have non-profit status. At the same time such firms might have altruistic concerns towards consumers. In this paper we study semi-altruistic firms? incentives to invest in quality and cost-reducing effort when facing constraints on the distribution of profits. Using a spatial competition framework, we derive the equilibrium outcomes under both quality competition with regulated prices and quality-price competition. Profit constraints always lead to lower cost-efficiency, whereas the effects on quality and price are ambiguous. If altruism is high (low), profit-constrained firms offer higher (lower) quality and lower (higher) prices than firms that are not profit-constrained. Compared with the first-best outcome, the cost-efficiency of profit-constrained firms is too low, while quality might be over- or underprovided. Profit constraints may improve welfare and be a complement or substitute to a higher regulated price, depending on the degree of altruism.
主题Industrial Organization
关键词Profit constraints Quality competition Semi-altruistic providers
URLhttps://cepr.org/publications/dp8284
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/537121
推荐引用方式
GB/T 7714
Kurt Richard Brekke,Luigi Siciliani. DP8284 Quality competition with profit constraints: Do non-profit firms provide higher quality than for-profit firms?. 2011.
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