Welfare Consequences of Tight Price-Cap Regulation.

This paper analyses the welfare effects of price-cap regulation of a multi-product monopolist when the price index has fixed weights. A tight cap can result in welfare below the level associated with an unregulated monopoly. This does not occur if the weights are based on lagged quantities and the l...

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Egile nagusia: Cowan, S
Formatua: Journal article
Hizkuntza:English
Argitaratua: 1998