The Role of Contract in Quality Assurance

Current Agriculture, Food and Resource Issues, No. 1, pp. 1-10, 2000

Posted: 29 Aug 2012

Date Written: May 10, 2000

Abstract

In recent years a debate has raged about the accuracy of the cost-of-living index. A major bone of contention regards capturing the changes in the quality of goods. Were it easy to measure quality, disputes about the magnitude of the change would have not arisen. The difficulty in pinpointing quality is not merely an academic or policy question; it also poses a major problem for exchange. When the quality of the exchanged commodities is uncertain, costly disputes about what one gives and the other receives are bound to arise. Such disputes are a matter of property rights, of who owns what.

Suggested Citation

Barzel, Yoram, The Role of Contract in Quality Assurance (May 10, 2000). Current Agriculture, Food and Resource Issues, No. 1, pp. 1-10, 2000, Available at SSRN: https://ssrn.com/abstract=2138406

Yoram Barzel (Contact Author)

University of Washington ( email )

Box 353330
Seattle, WA 98195-3330
United States
206-543-2510 (Phone)
206-685-7477 (Fax)

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