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Product Standards and the Economics of Time
Author(s) -
SWAGLER ROGER M.,
MARLOWE JULIA
Publication year - 1981
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/j.1745-6606.1981.tb00692.x
Subject(s) - product (mathematics) , economics , focus (optics) , new product development , marketing , business , public economics , environmental economics , mathematics , physics , geometry , optics
It is increasingly common for policy makers to evaluate product standards in cost‐benefit terms. However, such evaluations focus on the product itself rather than the product in use. The possible impact of the standard on consumers’ use of time is therefore overlooked. As a result, cost‐benefit relationships could be systematically misrepresented.