Franckx, Laurent; Alessio D’Amato†; Brose, Isabelle; … - Centrum voor Economische Studiën, Faculteit Economie … - 2004
We consider environmental regulation of n risk-averse, multiple pollutant firms. We develop a “yardstick competition” scheme where the regulatory scheme depends on the dierence between a firm’s “aggregate” performance and the average “aggregate” performance of the industry. Whether...