More then just a textbook, A Theory of Incentives in Procurement and Regulation will guide economists' research on … regulation for years to come. It makes a difficult and large literature of the new regulatory economics accessible to the average … pathbreaking work in the application of principal-agent theory to questions of regulation, Laffont and Tirole develop a synthetic …

We show that the separation of powers in regulation may act as a commitment against the threat of regulatory capture …