We develop a model to discuss a government's incentives to delegate to bureaucrats the regulation of an industry. The …-based regulation policy requires the government to make use of a bureaucracy; this has a bureaucratic cost, as the bureaucracy diverts … implications for when and how a government should delegate its regulation of industry. We find that bureaucratic discretion reduces …

understand this recent rise in NGO activism, we develop a theory of optimal regulation in which a regulated industry seeks to … undertake a project that may be harmful to society. On the one hand, public regulation is vulnerable to the influence of the …

In this paper, we study regulation of externalities involving many small-scale polluters, where the damages from … such regulations should be designed and combined. We find that the optimal regulation design crucially depends on the type … technology regulation encourages cleaner technologies in high damage areas, but discourages their use in low damage areas …

We develop a dynamic regulation game for a stock externality under asymmetric information and future market uncertainty …. Within this framework, regulation is characterized as the implementation of a welfare-maximization program conditional on …

; liability sharing ; regulation ; incomplete information …