AGRELL, Per J.; GAUTIER, Axel - Center for Operations Research and Econometrics (CORE), … - 2012
Conventional capture models rely on the idea that regulator is induced to lenient behavior by the regulated firm … costly capture, the political principal should then either implement collusion-proof mechanisms through the delegation of … welfare gains, or severely restrict the career paths of regulatory staff. The paradox of capture is that neither the two modes …