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We analyze how information disclosure policy affects investment efficiency in non-cooperative settings with information externalities. In a two-firm, two-period model, we characterize equilibrium behavior under policies which disclose whether investment returns exceed a predefined level. These...
Persistent link: https://www.econbiz.de/10013435110
This paper examines the regulation of technological innovation direction under uncertainty about potential harms. We develop a model with two competing technological paths and analyze various regulatory interventions. Our findings show that market forces tend to inefficiently concentrate...
Persistent link: https://www.econbiz.de/10014635704
This paper reviews the economic literature on the European Union's General Data Protection Regulation (GDPR). I highlight key challenges for studying the regulation including the difficulty of finding a suitable control group, variable firm compliance and regulatory enforcement, as well as the...
Persistent link: https://www.econbiz.de/10013477197
This paper provides the first quantitative economic models of pharmacy benefit management regulation. The price-theoretic models allow for various market frictions and imperfections including market power, coordination costs, tax distortions, and incomplete innovation incentives. A rigorous...
Persistent link: https://www.econbiz.de/10014247918
We provide an in-depth study of short-term rental (STR) regulation in Chicago. While many municipalities choose between outright bans or laissez-faire strategies concerning STR activities, Chicago pioneered a middle-ground ordinance, enabling the market to exist with limitations and...
Persistent link: https://www.econbiz.de/10014576565
regulations with faster transitions clash with affordability and reliability goals …
Persistent link: https://www.econbiz.de/10014468287
-revelation mechanism without transfers) in order to reduce the impact of the firm's bias on its hiring behavior. The hiring regulation is … firm. We characterize the optimal mechanism …
Persistent link: https://www.econbiz.de/10014468218
We study a model in which corporate social responsibility (CSR) arises as a response to inefficient regulation. In our model, firms, governments, and workers interact. Firms generate profits but create negative spillovers that can be attenuated through government regulation, which is set...
Persistent link: https://www.econbiz.de/10012457304
Flexibility in environmental regulations can lead to reduced costs if it allows additional abatement from lower cost …
Persistent link: https://www.econbiz.de/10012457408
Harberger triangles are used to calculate the efficiency costs of taxes, government regulations, monopolistic practices …
Persistent link: https://www.econbiz.de/10012471960