Deregulation
Date
2001
Authors
Pitchford, Rohan
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Volume Title
Publisher
Crawford School of Economics and Government, The Australian National University
Abstract
It is well known in the theoretical literature on deregulation, that any informative signal will be used to give the firm appropriate incentives. This paper presents a model of deregulation that draws on the multi-task model of Holmstrom and Milgrom (1991). Sufficient conditions are derived for deregulation to be optimal despite the existence of a signal that contains information about the firm’s activity. The conditions ensure that there is an adverse response by the firm whenever the regulator tries to use the signal for incentives.
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Citation
Pitchford, R. (2001). Deregulation. International and Development Economics Paper 01-9. Canberra, ACT: Crawford School of Economics and Government, The Australian National University.
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