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We study an industry in which an upstream monopolist supplies an essential input at a regulated price to several downstream firms. Legal unbundling means that a downstream firm owns the upstream firm but this upstream firm is legally independent and maximizes its own upstream profits. We allow...
Persistent link: https://www.econbiz.de/10010264909
suggests that consumers may benefit most from legal unbundling with strong regulation and parts of ownership given to a … imperfections in legal unbundling (keeping ownership fixed) generally increases total output. Increasing the incumbent's ownership …, higher ownership shares of the downstream incumbent may sometimes lead to lower degrees of imperfections. Our analysis …
Persistent link: https://www.econbiz.de/10010264910
not form a homogeneous group: constraints are different when controlled for export intensity, ownership, location, and …
Persistent link: https://www.econbiz.de/10011984739
reforms in India, the results of our empirical analysis provide evidence of strong ownership effects with board independence …
Persistent link: https://www.econbiz.de/10011996082
-pronged) approach encompassing regulation, profitability, and nonperforming assets (NPAs) and their interactions as a measure of the … the premises of the proposed approach to bank performance. Furthermore, various ownership classes provided mixed results … findings regarding various shareholder groups (ownership classes) can be a catalyst to set the policy for ownership …
Persistent link: https://www.econbiz.de/10012611668
This paper investigates the design of incentives in a dynamic adverse selection framework when agents' production technologies display learning effects and agents' rate of learning is private knowledge. In a simple two-period model with full commitment available to the principal, we show that...
Persistent link: https://www.econbiz.de/10010315554
This paper investigates the design of incentives in a dynamic adverse selection framework when agents' production technologies display learning effects and agents' rate of learning is private knowledge. In a simple two-period model with full commitment available to the principal, we show that...
Persistent link: https://www.econbiz.de/10010315563
The central hypothesis of this article is that liability regulation can foster firms' incentives to study the … structure under the application of hindsight liability. We find a new role for liability regulation: to foster voluntary …
Persistent link: https://www.econbiz.de/10014545911
In this paper we consider the problem of financing infrastructure when the regulator faces a budget constraint. The optimal budget-constrained mechanism satisfies four properties. The first property is bunching at the top, that is the more efficient firms produce the same quantity. The second...
Persistent link: https://www.econbiz.de/10010263051
This article studies the problem of regulating a monopolist with unknown marginal cost. The originality of the paper is to consider that the regulator faces a cash-in-advance constraint. The introduction of such a constraint not only reduces the amount of public good provided but also limits the...
Persistent link: https://www.econbiz.de/10010263052