Optimal Regulatory Lag under Price Cap Regulatio

We present an model of monopoly regulation in which the probability of cost being low rather than high depends on the firm's effort. The regulator chooses price and regulatory lag (i.e., the length of time until the next price review) to maximize welfare subject to an expected break-even constr...

Szczegółowa specyfikacja

Opis bibliograficzny
Główni autorzy: Armstrong, M, Rees, R, Vickers, J
Format: Working paper
Język:English
Wydane: CESifo 1991