Showing 1 - 10 of 1,994
The paper provides a tractable, analytical framework to study regulatory risk. Regulatory risk is captured by … funds. Results are as follows: 1) The regulator's reaction to regulatory risk depends on the curvature of aggregate demand …. 2) It yields a positive information rent effect exactly when demand is convex. 3) Firms benefit from regulatory risk …
Persistent link: https://www.econbiz.de/10013160045
We study ex post information rents in sequential screening models where the agent receives private ex ante and ex post information. The principal has to pay ex post information rents for preventing the agent to coordinate lies about his ex ante and ex post information. When the agent's ex ante...
Persistent link: https://www.econbiz.de/10013054499
We study regulation of the auditing profession in a model where audit quality is unobservable and enforcing regulation …
Persistent link: https://www.econbiz.de/10013317070
We consider environmental regulation in a context where firms invest in abatement technology under conditions of …
Persistent link: https://www.econbiz.de/10013086398
We consider a network that intermediates traffic between free content providers and consumers. While consumers do not know the traffic cost when deciding on consumption, a content provider knows his cost but may not control the consumption. We study how pricing consumers' and content providers'...
Persistent link: https://www.econbiz.de/10013055385
This paper studies the effects of price regulation and parallel imports in the on-patent pharmaceutical market. In a … theory model where the producer price is subject to bargaining between the brand-name producer and a distributor, we show … that the effects of stricter price regulation crucially depend on whether the producer faces competition from parallel …
Persistent link: https://www.econbiz.de/10013017702
This paper investigates the relationship between electoral incentives, institutions and corruption. We assume that voters use a yardstick criterion. The incumbent provides a public good and extracts rent, which are financed by imposing a distortionary tax. We demonstrate the possibility that...
Persistent link: https://www.econbiz.de/10012771407
A multi-jurisdictional system is thought to improve, through yardstick competition, accountability. At the same time equalization programs, a common feature of multi-jurisdictional systems, are thought to be a prerequisite for both efficiency of the internal market and the equity objective of...
Persistent link: https://www.econbiz.de/10012778927
Three sources of strategic tax interactions among local jurisdictions are usually considered in the literature: public expenditure spill-over, tax competition and yardstick competition. However, another source has now been suggested: the intellectual trend. According to that hypothesis,...
Persistent link: https://www.econbiz.de/10013096572
Based on an idiosyncratic reading of the literature I propose intermediate (rather than tight or soft) regulation for … balancing investment incentives with allocative efficiency and competition objectives. Intermediate regulation is compatible … with incentive regulation and helps lengthening the regulatory commitment period necessary for incentives. However, such …
Persistent link: https://www.econbiz.de/10013316240