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For the first four decades of its existence the U.S. nuclear power industry was run by regulated utilities, with most companies owning only one or two reactors. Beginning in the late 1990s electricity markets in many states were deregulated and almost half of the nation's 103 reactors were sold...
Persistent link: https://www.econbiz.de/10013121046
Local governments can provide services with their own employees or by contracting with private or public sector providers. We develop a model of this quot;make-or-buyquot; choice that highlights the trade-off between productive efficiency and the costs of contract administration. We construct a...
Persistent link: https://www.econbiz.de/10012759893
government employees and contracting out to private suppliers, also known as privatization. We examine empirically how United … laws restricting county spending encourage privatization, whereas strong public unions discourage it. The evidence is … by political patronage and taxpayer resistance to government spending in the privatization decision …
Persistent link: https://www.econbiz.de/10013222637
harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great … importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions … help to explain the observed predominance of liability over taxation, except in the area of pollution. The following …
Persistent link: https://www.econbiz.de/10013139749
Taxation and liability are compared here as means of controlling harmful externalities. It is emphasized that liability … liability does not require the state to determine expected harm - it requires only that injurers pay for harm that occurs …. However, taxation enjoys an advantage over liability: incentives under liability are diluted to the degree that injurers might …
Persistent link: https://www.econbiz.de/10013139750
This article studies how liability for environmentally harmful discharges affects the incentives of firms to engage in …
Persistent link: https://www.econbiz.de/10013124354
We develop a model where products liability trials provide information to consumers who are not parties to the …
Persistent link: https://www.econbiz.de/10013125177
Many countries have large future public liabilities attributable to health care programs. However, little explicit analysis exists about how health care policies affect these program liabilities. We analyze how reimbursement and approval policies affect public liabilities through their impact on...
Persistent link: https://www.econbiz.de/10013097273
A lending boom is reflected in the composition of bank liabilities when traditional retail deposits (core liabilities) cannot keep pace with asset growth and banks turn to other funding sources (non-core liabilities) to finance their lending. We formulate a model of credit supply as the flip...
Persistent link: https://www.econbiz.de/10013100127
Regulation and the negligence rule are both designed to obtain compliance with desired standards of behavior, but they differ in a primary respect: compliance with regulation is ordinarily assessed independently of the occurrence of harm, whereas compliance with the negligence rule is evaluated...
Persistent link: https://www.econbiz.de/10013100136