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Railways and the productivity gap in Italy : persistence and divergence after unification
Pontarollo, Nicola; Ricciuti, Roberto - 2015
The political unification of Italy in 1861 led to the establishment of a single market, by removing the trade barriers across the pre-existing states, with a single currency. Market integration was the economic outcome of this process. At the same time, the Kingdom of Italy started a large...
Persistent link: https://www.econbiz.de/10011295798
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Irreversible investments and regulatory risk
Panteghini, Paolo; Scarpa, Carlo - 2003
This paper addresses the issue of how regulatory constraints affect firm s investment choices when the firm has an option to delay investment. The RPI-x rule is compared to a profit sharing rule, which increases the x factor in case profits go beyond a given level. It is shown that a pure price...
Persistent link: https://www.econbiz.de/10011507879
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Investment size and firm's value under profit sharing regulation
Moretto, Michele; Panteghini, Paolo; Scarpa, Carlo - 2003
In this article we analyse the effects of different regulatory schemes (price cap and profit sharing) on a firm s investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a firm s start-up decision relative to a pure price cap...
Persistent link: https://www.econbiz.de/10011509471
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The interplay between regulation and competitions : the case of universal service obligations
Hörnig, Steffen; Valletti, Tommaso M. - 2002
Regulators have long been aware of the social aspects of communication. In the past, regulated monopolists have provided Universal Service Obligations, typically funded via a system of cross-subsidies. In this paper, we first review the rationale for imposing Universal Service Obligations, based...
Persistent link: https://www.econbiz.de/10011409371
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The welfare effects of mobile internet access : evidence from Roam-Like-At-Home
Quinn, Martin; Matos, Miguel Godinho de; 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/10012888496
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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/10012822098
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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/10012304299
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Delegation of regulation
Kundu, Tapas; Nilssen, Tore - 2017
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 …
Persistent link: https://www.econbiz.de/10011700470
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Investment in quality upgrade and regulation of the Internet
Baranes, Edmond; Cuong Hung Vuong - 2020
nondiscrimination regulation that forces the ISP to provide an equal quality upgrade to both CPs, however, can reduce the ISP …
Persistent link: https://www.econbiz.de/10012158085
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Ambiguous protection
Gruendler, 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/10012432992