mechanism and Shleifer's yardstick Regulation. Unfortunately, in practical applications of these simple mechanisms the regulated … regulator must be extremely well-informed if he wants to apply this sort of regulation: except for the actual realizations of a … regulated public utility. This is the main reason why in practice the simple $RPI - X$ regulation prevails. Finally, in this …

: regulation and supervision. We first briefly outline the main steps in the development of the Financial Services Action Plan …

investors might potentially choose riskier portfolios than before the regulation – this is, presumably, not what the regulation … intends to achieve. That is, while regulation most likely diverts investors from their optimum decision it does not guarantee … that the new optimum has a lower risk. The effect of the regulation depends on several things, most importantly the …

servicing that market. Moreover, differences in regulation among countries often imply that firms have to incur entry costs in …