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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 …
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product or labour market regulation fail to measure structural reform as they focus on cross-country comparisons rather than …
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Competing hospitals may not only use quality of service to attract patients but also their specialization profile. Applying a Hotelling-duopoly and interpreting respectively quality and specialization as vertical and horizontal differentiation, we analyze the optimal allocation in both...
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This paper addresses the issue of how regulatory constraints affect firm s investment choices when the firm has an option to delay investment. The RPI-x rule is compared to a profit sharing rule, which increases the x factor in case profits go beyond a given level. It is shown that a pure price...
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In this article we analyse the effects of different regulatory schemes (price cap and profit sharing) on a firm s investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a firm s start-up decision relative to a pure price cap...
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to their positive effects on the environment. Environmental regulation may induce innovations that are accompanied by …
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study optimal regulation in a model in which wages are determined endogenously by wage bargaining at the firm level …
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