Performance-based regulation is widely heralded as a superior approach to regulation. Rather than specifying the … actions regulated entities must take, performance-based regulation instead requires the attainment of outcomes and gives … flexibility in how to meet them. Despite nearly universal acclaim for performance-based regulation, the reasons supporting its use …

all, in a sense to be made precise. -- Asymmetric Information ; Learning by Doing ; Regulation …

Strategic delegation to an independent regulator with a pure consumer standard improves dynamic regulation by … likely. -- Dynamic regulation ; strategic delegation ; consumer standard ; ratchet effect ; limited commitment …

Strategic delegation to an independent regulator with a pure consumer standard improves dynamic regulation by …

shareholder, or both. Our characterization of optimal regulation in the presence of an agency conflict demonstrates several key … results. First, optimal regulation can take two forms. In one regulatory strategy fines are imposed on shareholders and they … firing” strategy that imposes a fine on the manager becomes more attractive. And third, we find that regulation costs are …

associated with the X-factor in a price/revenue cap regulation and cost of capital, whilst at the same time increasing overall …