Reputations, market structure, and the choice of quality assurance systems in the food industry. From: American Journal of Agricultural Economics | Date: February 1, 2007| Author: Babcock, Bruce A.; Carriquiry, Miguel | COPYRIGHT 2007 American Agricultural Economics Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Many food traits desired by consumers are costly to provide and difficult to verify. A complicating factor is that delivered quality can only be affected stochastically by producers and imperfectly observed by consumers. Markets for these goods will emerge only if supplying firms can be trusted. We develop a repeated purchases model to explore how quality discoverability, market structure, nature of reputations, market premiums, and discount factors drive firm choice about the stringency of...

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