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| Author: | Laffont, J. |
| Title: | The new economics of regulation ten years after |
| Journal: | Econometrica
1994 : MAY, VOL. 62:3, p. 507-538 |
| Index terms: | INFORMATION REGULATIONS INCENTIVES |
| Language: | eng |
| Abstract: | The new economics of regulation is an application of the principal-agent methodology to the contractual relationship between regulators and regulated firms. After a critique of the traditional paradigms of regulation from the point of view of information economics a canonical model of regulation under asymmetric information is developed. A survey of the main results obtained in the new economics of regulation is then provided. |
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