Similar Search Results

Weeding out the Dealers? The Economics of Cannabis Legalization

Auriol, Emmanuelle; Mesnard, Alice; Perrault, Tiffanie - 2020

We model consumer choices for cannabis in a risky environment and determine the supply of cannabis under prohibition and legalization. While introducing a legal market reduces the profits of illegal providers, it increases cannabis consumption. We show that this trade-off can be overcome by...

Persistent link: https://www.econbiz.de/10012425551

Ambiguous Protection

Gründler, Klaus; Hillman, Arye L. - 2021

Import regulations are globally the most prevalent form of intervention in international trade. The regulations should, under rules of the WTO, protect consumers and the environment but can be used to protect producers. We investigate the ambiguity of intent. We set out a model that when applied...

Persistent link: https://www.econbiz.de/10012493034

Fare Evasion and Monopoly Regulation

Besfamille, Martin; Figueroa, Nicolás; Guzmán, León - 2022

We consider the regulation of a monopoly facing consumers that may evade payments, an important issue in public …

Persistent link: https://www.econbiz.de/10013177626

The Welfare Effects of Mobile Internet Access - Evidence from Roam-Like-at-Home

Quinn, Martin; de Matos, Miguel Godinho; Peukert, Christian - 2022

We evaluate the welfare effects of the Roam-Like-At-Home regulation, which drastically re-duced the price of accessing … impact of the regulation on different user segments. We estimate that around half of the gains stem from a reduction in … deadweight loss, i.e., new users accessing the mobile internet. We further show that the impact of the regulation varies with …

Persistent link: https://www.econbiz.de/10013177646

Smart Cap

Karp, Larry S.; Träger, Christian - 2021

We introduce a “smart” cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty”). This cap responds endogenously to technology or macroeconomic shocks, relying on the market price of certificates to aggregate information. It allows policy makers to...

Persistent link: https://www.econbiz.de/10012581980

A Dynamic Theory of Regulatory Capture

De Chiara, Alessandro; Schwarz, Marco - 2021

Firms often try to influence individuals that, like regulators, are tasked with advising or deciding on behalf of a third party. In a dynamic regulatory setting, we show that a firm may prefer to capture regulators through the promise of a lucrative future job opportunity (i.e., the...

Persistent link: https://www.econbiz.de/10012582031

Impact of Roaming Regulation on Revenues and Prices of Mobile Operators in the EU

Grzybowski, Lukasz; Muñoz-Acevedo, Ángela - 2021

We empirically assess the impact of the EU roaming regulation on mobile operators' average revenues per user (ARPU) and …-level data we find that the regulation decreased mobile operator's revenues per user, while it had no impact on tariffs during … the latest phase of the regulation. …

Persistent link: https://www.econbiz.de/10012657941

Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin and Crypto Shadow Banking

Li, Ye; Mayer, Simon - 2021

Stablecoins rise to meet the demand for safe assets in decentralized finance. Stablecoin issuers transform risky reserve assets into tokens of stable values, deploying a variety of tactics. To address the questions on the viability of stablecoins, regulations, and the initiatives led by large...

Persistent link: https://www.econbiz.de/10012657966

Do Land Markets Anticipate Regulatory Change? Evidence from Canadian Conservation Policy

Boskovic, Branko; Nøstbakken, Linda - 2016

Regulation often evolves, and affected consumers or firms may adjust their behavior in anticipation of potential … changes to regulation. Using shifting land use regulation boundaries and oil lease prices from Canada, we estimate the effect … unregulated leases. Based on our estimates, not accounting for anticipation underestimates the total cost of the regulation by …

Persistent link: https://www.econbiz.de/10011522456

Legal Uncertainty as a Welfare Enhancing Screen

Lang, Matthias - 2016

Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...

Persistent link: https://www.econbiz.de/10011584863