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Prices and Price Controls: Are Price Controls a Policy Instrument?
1989How effectively, if at all, do price controls work? The answer to that question has implications for economic policy, for our understanding of history, and also for our understanding of markets. To the policymaker the answer is important in revealing to what extent controls might be used as an instrument of economic management.
Forrest Capie +2 more
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The Journal of Law and Economics, 1974
PRICE or rent control is but one of many forms of legislative action which interfere with private contracting in the market place. To delimit the scope of my analysis, I shall use the term "price control" to refer only to any set of regulations which satisfies the following three conditions.
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PRICE or rent control is but one of many forms of legislative action which interfere with private contracting in the market place. To delimit the scope of my analysis, I shall use the term "price control" to refer only to any set of regulations which satisfies the following three conditions.
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SHADOW PRICING WITH PRICE CONTROLS
Scottish Journal of Political Economy, 1993The vast literature on shadow pricing has concentrated on situations where the market clears, albeit imperfectly. This paper shows that, where the market fails to clear because price controls exist, there is no unique shadow price for the controlled commodity.
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Price Controls and Shortages: A Note
The Journal of Business, 1975It has long been argued that price controls can create "shortages." In perfectly competitive markets, this proposition is almost self-evident. If price is held below the equilibrium level, firms will continually supply less than consumers demand. On the other hand, under monopolistic conditions, controls could theoretically improve welfare and increase
Mitchell, Daniel J B, Azevedo, Ross E
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BMJ, 2010
The proposal that VAT should be less for on sales than for off sales alcohol might help stem the UK trend towards off sales purchasing.1 Although difficult to prove, drinking in licensed premises may be safer than drinking at home, because higher prices tend to reduce total …
Jonathan D, Chick +2 more
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The proposal that VAT should be less for on sales than for off sales alcohol might help stem the UK trend towards off sales purchasing.1 Although difficult to prove, drinking in licensed premises may be safer than drinking at home, because higher prices tend to reduce total …
Jonathan D, Chick +2 more
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Cost-Effectiveness As A Price Control
Health Affairs, 2007After a technology is developed, cost-effectiveness analysis can offer an economically sound approach to adoption decisions. Little attention has been paid, however, to the incentives these criteria induce for getting technologies to market in the first place.
Anupam B, Jena, Tomas, Philipson
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Price Controls and the Behavior of the Firm
International Economic Review, 1980This paper analyzes the impact of price controls upon the output and efficiency of the competitive firm when quality is a variable. It has long been recognized that price controls will induce firms to make adjustments along unregulated qualitative margins. The full consequences of this adjustment, however, have not been formally analyzed.
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Designing the price controller for the dynamic pricing of self-storage
International Journal of Production Research, 2019In this paper, we study the dynamic pricing practices in the self-storage industry by introducing the widely used price controller, a term borrowed from control theories, among all self-storage ser...
Lijian Chen, Shanling Li, Derek Wang
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Parallel imports, price controls, and innovation
Journal of Health Economics, 2018The impact of parallel trade on innovation in R&D-intensive industries, such as pharmaceuticals, is a hotly debated question in antitrust and IP policy. The well-known argument that parallel trade dampens innovation by undermining firms' ability to price discriminate has been challenged by recent literature.
Markus, Reisinger +2 more
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The Enforcement of Public Price Controls
Journal of Political Economy, 1980Price controls differ across industries systematically as predicted by the theory regulators maximize political support. This approach views the price controllers as choosing, subject to technology and budget constraints, the appropriate enforcement to balance the support from holding down prices against the opposition from dead-weight loss ...
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