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evaluation such regulations. I argue that, for market performance, more information is not always better; indeed, more …The European Commission is introducing new regulations on submission and publication of data in electricity markets … information may undermine market performance by facilitating behaviour that is either not cost efficient or aims at exercising …
Persistent link: https://www.econbiz.de/10009745912
This survey paper examines various information insufficiencies in biodiversity conservation and their impact of … information, and 4) monitoring problem. The consequences of these four types of information insufficiencies on the choice of …
Persistent link: https://www.econbiz.de/10011602463
This survey paper examines various information insufficiencies in biodiversity conservation and their impact of … information, and 4) monitoring problem. The consequences of these four types of information insufficiencies on the choice of …
Persistent link: https://www.econbiz.de/10014071900
Regulators often impose rules that constrain the behavior of market participants. We propose a new framework in which to study optimal regulation, representing the policy choice as a delegation problem overlaying a mechanism design problem: a regulator chooses a set of permitted mechanisms to...
Persistent link: https://www.econbiz.de/10012846228
The SEC regulates and standardizes information production in financial markets through financial reporting standards …-level measure of ex ante sensitivity to information regulation and find that the information content of subsequent information … events is higher for sensitive firms. Increased information content comes from negative news, consistent with regulation …
Persistent link: https://www.econbiz.de/10012967756
We propose a deterrence mechanism that utilizes insider information contained in criminal networks. Under this …
Persistent link: https://www.econbiz.de/10013250229
We study buyer-optimal information structures under monopoly pricing. The information structure determines how well the … seller. Motivated by the regulation of product information, we assume that the seller can disclose more if the learning is … imperfect. Extension proof information structures prevent such disclosure, which is a constraint in the design problem. Our main …
Persistent link: https://www.econbiz.de/10012901499
We investigate the interactions between optimal regulation and external credit constraints. When part of a regulated firm is owned by foreign investors, a credit-constrained country who wants to send profits abroad has to generate enough surplus in the trade account in order to compensate...
Persistent link: https://www.econbiz.de/10014050786
In this paper we consider the problem of regulating an open access essential facility. A vertically integrated firm owns an essential input and operates on the downstream market under the roof of a regulatory mechanism. There is a potential entrant in the downstream market. Both competitors use...
Persistent link: https://www.econbiz.de/10014051294
This paper studies the effect of soft-budget constraints in a pure adverse selection model of monopoly regulation. We consider a government maximizing total surplus but incurring some cost of public funds à la Laffont Tirole (1993). We propose a regulatory set-up in which firms are free to...
Persistent link: https://www.econbiz.de/10014052152