Abstract
Notes the announced and implied objectives of state retail fluid milk price regulation. Application of the Chamberlinian monopolistic competition model will aid in heuristically contrasting unregulated and regulated equilibria. Empirically, a simultaneous equations model will be used to study the effects of regulation upon performance and structure of the industry. Further, an estimate of the social cost of regulation will be deduced from the empirical results. The implications for public policy are presented. -Authors
| Original language | English (US) |
|---|---|
| Pages (from-to) | 254-262 |
| Number of pages | 9 |
| Journal | Review of Economics & Statistics |
| Volume | 62 |
| Issue number | 2 |
| DOIs | |
| State | Published - May 1980 |
Keywords
- Industrial egulation
- Price regulation
- Market prices
- Retail prices
- Raw milk
- Advertising restrictions
- Dairy industry
- Excess capacity
ASJC Scopus subject areas
- Social Sciences (miscellaneous)
- Economics and Econometrics