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asymmetric information. Regulation can be welfare-improving in the presence of an externality and also in case of collateral …
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bad. In a market setting with multiple consumers per expert, a cross-consumer externality arises: one consumer's payment … provide higher quality services to all consumers. The externality renders the market outcome inefficient. Price regulation …
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Current day large animal facilities generate more manure than they need on their own feed production areas. Excessive nutrient applications deteriorate groundwater (nitrogen) and surface water quality (nitrogen and/or phosphorus). Due to differences in environmental and economic characteristics,...
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negative externality (higher effort decreases the expected future quality of the asset) case: it is enough for the principal to … commit to reallocate the right to use the asset at the end of the first period. In the positive externality case (when higher …
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