Showing 1 - 10 of 337
. In this paper, we review the evolution of business regulation in Hong Kong, analyze the salient features of its scheme of … control regulation and evaluate the impact of transition from regulation to competition. To provide a sharp contrast between … the difficulties of the traditional approach to regulation and the benefits of introducing competition, we focus on the …
Persistent link: https://www.econbiz.de/10013232151
There are many industries in which potentially competitive segments require services provided by natural monopoly … agreements between the monopoly bottleneck and downstream firms are possible, Demsetz auctions need floors on bids, since … otherwise welfare can be lower than with an unregulated monopoly. We model an underhand agreement using a standard hidden …
Persistent link: https://www.econbiz.de/10013235272
but that may be offsetting the under-consumption associated with monopoly prices. If all advertising is misinformation …
Persistent link: https://www.econbiz.de/10012778091
-driven regulation based on “safe tests,” i.e. tests that are passed with probability one by competitive bidders, but need not be passed …
Persistent link: https://www.econbiz.de/10012890450
We propose an activity-generating theory of regulation. When courts make errors, tort litigation becomes unpredictable … risk, this type of regulation can raise welfare …
Persistent link: https://www.econbiz.de/10013231863
basic and ubiquitous features of regulation as actually implemented throughout the world has received little theoretical … because exemption induces additional harmful activity to be channeled their way. This article analyzes optimal regulation with … regulation, which illustrates the contrast with the mechanism design approach that analyzes the optimal use of instruments of a …
Persistent link: https://www.econbiz.de/10012946483
disclosure requirements that exist in these markets. We show that reducing the number of charlatans through regulation decreases … regulation, implying that the regulation we observe in these markets likely derives from producer interests. Using these insights …
Persistent link: https://www.econbiz.de/10012949422
heavy burden of monopoly and regulation. We find little evidence that the introduction of social protection programs for …This paper discusses the problems facing the Mexican economy. It operates under a heavy burden of monopoly and … regulation. We focus on two issues that should receive more attention in discussions of Mexican policy. (1) The family is under …
Persistent link: https://www.econbiz.de/10013135761
-established regulator faces a privately owned monopoly. It is sometimes forgotten that this model does not apply in many places where a … 20 years, analyzing its impact on consumers' welfare, the monopoly's profitability and its productivity. Though the …
Persistent link: https://www.econbiz.de/10012760613
IV explores the implications of the analysis for a variety of issues relating to monopoly and public regulation, such as …, suffer a loss, that is not offset by gains to the monopolist. This is the "deadweight loss" from monopoly, and in … conventional analysis the only social cost of monopoly. The loss suffered by those who continue to buy the product at the higher …
Persistent link: https://www.econbiz.de/10013245335