Pricing Policies Contingent on Observed Product Quality.

by E. P. Durbin

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A description of a producing and procurement situation in which a risk-averse producer and consumer both attempt to maximize expected profit. The consumer selects a pricing strategy and sample size, and the producer selects the product quality. It is assumed that, at a known cost, a producer can control the true quality of his output. 24 pp. Bibliog.

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