all, in a sense to be made precise. -- Asymmetric Information ; Learning by Doing ; Regulation …

We investigate regulation as the outcome of a bargaining process between a regulator and a regulated firm. The …

, price regulation should be accompanied by licensing arrangements that cap the number of experts in the market. Our theory … provide higher quality services to all consumers. The externality renders the market outcome inefficient. Price regulation … provides a novel rationale for the wide-spread use of price regulation and licensing in real-world markets for expert services. …

When a monopolist has discretion over the timing of infrastructure investments, regulation of post-investment prices … study regulation when the regulator can condition price caps on investment timing. We analyse optimal regulation when there … is asymmetric information on investment costs and regulation has to respect a budget constraint. We show that optimal …

agents to produce information jointly is commonly observed. Yet, agency theory stresses the difficulties associated with …

economics of regulation, it then points out generic information and transaction cost problems of regulatory policy making. An … transaction-cost-political approaches. There has been some progress in recent years in developing such a "new economic theory of … federalism". Basic ideas and some insights of this theory are discussed with regard to the appropriate "federal" allocation of …