that centralized regulation is preferable. Under asymmetric information about the firms' costs, lobbying induces a unique …

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

that centralized regulation is preferable. Under asymmetric information about the firms' costs, lobbying induces a unique … may be social welfare enhancing. -- regulation ; Lobbying ; asymmetric information ; energy markets. …

explore what proportion of welfare gains achievable by sophisticated regulation can be secured using simpler mechanisms and …

We investigate regulation as the outcome of a bargaining process between a regulator and a regulated firm. The …

provide higher quality services to all consumers. The externality renders the market outcome inefficient. Price regulation … partially overcomes this inefficiency and Pareto-improves upon the market outcome. If market entry of experts is endogenous …, price regulation should be accompanied by licensing arrangements that cap the number of experts in the market. Our theory …

and entry phases of the industry, the nature of competition is substantially affected by such price discrimination … between rival operators and studied competition between interconnected networks, under the assumption of non … subscriber's network and those terminating on a rival's network. This creates a price differential between services that are …

under competition law-based sector governance (the period from 1987 to 2001) and under industry-specific regulation (2001 to …-specific regulation, however, transfers to consumers appear to have reduced, transaction costs have increased and delays are being … incurred in the deployment of new applications and technologies relative to the competition law regime as participants engage …

Although the allocative efficiency benefits of competition are a tenet of microeconomic theory, the relation between … competition and technical efficiency is less well understood. Neoclassical models of profit-maximization subsume static cost …-minimizing behavior regardless of market competitiveness, but agency models of managerial behavior suggest possible scope for competition …