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Deregulation

Pitchford, Rohan

Description

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...[Show more]

CollectionsANU Research Publications
Date published: 2001
Type: Working/Technical Paper
URI: http://hdl.handle.net/10440/1230

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