search query: @author Liston-Heyes, C. / total: 9
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| Author: | Heyes, A. G. Liston-Heyes, C. |
| Title: | Price-cap regulation and technical change. |
| Journal: | Journal of Public Economics
1998 : APR, VOL. 68:1, p. 137-151 |
| Index terms: | COST REDUCTION PRICE CONTROL R&D TECHNOLOGICAL CHANGE COMPUTER TECHNOLOGY |
| Language: | eng |
| Abstract: | The aim of this paper is to characterise and assess the incentives that PCs generate for cost-reducing technical change. In this paper it is shown that much of the conventional wisdom regarding PCR and technical change is quantitatively and qualitatively unrobust to the inclusion of an external developer. The authors set up an R&D 'game' in which a regulated monopolist and a single external developer each attempt to develop a new, low cost production technology. They show that in any equilibrium the external developer engages in more or less. |
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