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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| Médium: | Journal article |
| Jazyk: | English |
| Vydáno: |
1998
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