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Regulatory risk under optimal incentive regulation
Strausz, Roland - 2009
curvature of the aggregate demand function. 2) It yields a positive information rent effect exactly when demand is convex. 3 … consumers' preferences. -- Optimal incentive regulation ; regulatory risk ; procurement ; information rents …
Persistent link: https://www.econbiz.de/10003796198
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Regulatory risk under optimal incentive regulation
Strausz, Roland - 2009
. 2) It yields a positive information rent effect exactly when demand is convex. 3) Firms benefit from regulatory risk … ; regulatory risk ; benevolent regulators ; information rents …
Persistent link: https://www.econbiz.de/10003850166
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Underwriting in Property-Casualty Insurance Markets : Regulation, Risk and Volatility
Phillips, Ronnie J. - 2011
equity value of insurance firms. Solvency regulations, however, pose a second source of risk to equity value when the … implementation of such regulations randomly affects the return to underwriting but exhibits imperfect correlation with market … the conflicting effects of these strategies on firm equity, regulations adopted to reduce the solvency risk of insurers …
Persistent link: https://www.econbiz.de/10013121443
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Regulatory Risk Under Optimal Incentive Regulation
Strausz, Roland - 2009
. 2) It yields a positive information rent effect exactly when demand is convex. 3) Firms benefit from regulatory risk …
Persistent link: https://www.econbiz.de/10013160045
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Optimal Risk Regulation of Monopolists with Subjective Risk Assessment
Kishishita, Daiki - 2020
This study aims at characterizing the optimal regulation of risky activities when risk assessment is subjective as a result of ambiguity on the probability of an accident. The attitudes toward ambiguity held by stakeholders form subjective risk perceptions, which substantially affect the optimal...
Persistent link: https://www.econbiz.de/10012837984
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Regulatory Risk, Vertical Integration, and Upstream Investment
Fiocco, Raffaele - 2020
We investigate the impact of regulatory risk on vertical integration and upstream investment by a regulated firm that provides an essential input to downstream competitors. Regulatory risk reflects uncertainty about the regulator's commitment to a regulatory policy that promotes the regulated...
Persistent link: https://www.econbiz.de/10012844812
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Idiosyncratic risk and the cost of capital : the case of electricity networks
Schober, Dominik; Schäffler, Stephan; Weber, Christoph - 2014
We analyze the treatment and impact of idiosyncratic or firm-specific risk in regulation. Regulatory authorities regularly ignore firm-specific characteristics, such as size or asset ages, implying different risk exposure in incentive regulation. In contrast, it is common to apply only a single...
Persistent link: https://www.econbiz.de/10010234037
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Uncertainty, Risk and Information
Bonanno, Giacomo - 2020
the addition of several new chapters on risk sharing, asymmetric information, adverse selection, signaling and moral … asymmetric information in contractual relationships. It is richly illustrated with 150 figures. It is suitable for both self …
Persistent link: https://www.econbiz.de/10012846042
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Complementarity and Substituability in Multiple-Risk Insurance Markets
Koehl, Pierre-François; Villeneuve, Bertrand - Université Paris-Dauphine (Paris IX) - 2001
information, equilibria are efficient, and we determine the degrees of specialization under which the specialized insurers are …
Persistent link: https://www.econbiz.de/10010707228
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Complementarity and Substituability in Multiple-Risk Insurance Markets.
Koehl, Pierre-François; Villeneuve, Bertrand - Université Paris-Dauphine - 2001
information, equilibria are efficient, and we determine the degrees of specialization under which the specialized insurers are …
Persistent link: https://www.econbiz.de/10008773599