haku: @author Dalen, M. / yhteensä: 1
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| Tekijä: | Dalen, M. |
| Otsikko: | Yardstick competition and investment incentives |
| Lehti: | Journal of Economics and Management Strategy
1998 : SPRING, VOL. 7:1, p. 105-126 |
| Asiasana: | COMPETITION INVESTMENT INCENTIVES ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | This paper analyses how firms' investment incentives are affected by yardstick competition in a situation in which the regulator is unable to commit himself to the regulatory contract before firms invest. Despite its rent-extracting property, yardstick competition does not necessarily reduce efficiency-improving investment. Considering firm-specific investment, yardstick competition is shown to increase investment incentives over individual regulation of firms. |
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