Faure-Grimaud, Antoine; Reiche, Sonje - London School of Economics (LSE) - 2003
implement the commitment solution with constraints on transfers. Second, absent current competition, the possibility of future … competition between regulated firms and when firms' private information is correlated. This sharply contrasts with the dynamic of … regulation without such competition. The paper also explores what limitations on yardstick mechanisms can justify the use of long …