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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
depend on sound infrastructure and well-calibrated regulation. The humble wooden utility pole, first deployed in America in … risks Joint Pole Committees (JPCs) pose for energy and communications safety, service, competition, and regulation. This …, competition, and accountable governance at the forefront of utility regulation. This article lifts the veil over JPC practices …
Persistent link: https://www.econbiz.de/10014254996
. (iii) Manne & Zywicki’s posture against the inclusion of volitive elements in Antitrust Enforcement is essentially wrong …, as proven by analyzing the role of ‘procompetitive justifications’ in the enforcement of Antitrust rules. In sum, the …
Persistent link: https://www.econbiz.de/10014138230
When retailers must commit to shipment quantities prior to resolution of demand uncertainty, manufacturer stipulation of a minimum retail price is likely to be profitable for the manufacturer, and not damaging to the retailers. The reason is simple: If demand turns out to be low, the unfettered...
Persistent link: https://www.econbiz.de/10014160078
regulation of risks associated with production, consumption, and the environment, Professor Timur Kuran and Cass R. Sunstein …
Persistent link: https://www.econbiz.de/10012778857
Alternative models of regulatory decision making/legislative choice are presented and evaluated. A limited rationality model oriented to the common good is proposed as more complete and no less accurate than any of the more cynical alternatives. The implication of this model is that many...
Persistent link: https://www.econbiz.de/10014047592
Input transactions in the petrochemical industry are often subject to temporal specificity. That is, non-performance in quantity, such as delaying delivery, is highly costly to producers and can be an effective holdup strategy. In the 1970s, two oil price shocks induced high price volatility in...
Persistent link: https://www.econbiz.de/10014168352
the forthcoming monograph: Maciej Bernatt, Populism and Antitrust. The Illiberal Influence of Populist Government on the … Competition Law System (Cambridge University Press 2022), https://www.cambridge.org/core/books/populism-and-antitrust/3619BEAF21AE …
Persistent link: https://www.econbiz.de/10013213938
ability of any one bank to adjust compensation to reflect risk-taking and long-term outcomes. New regulation must address the …
Persistent link: https://www.econbiz.de/10013035251
Integrated ownership is often seen as a way to foster specific investments. However, even in integrated firms, managers invest to maximize their compensation, which is chiefly driven by divisional income. Thus it is not clear that integration has any effect on investments in a world of...
Persistent link: https://www.econbiz.de/10014116587