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A Reexamination of Yardstick Competition

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Author Info
Joel Sobel

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Abstract

This paper shows that yardstick competition does not assist a regulator when lump-sum transfers are not costly and the regulator does not care about the distribution of income. Yardstick competition may discourage investment that would make efficient operation possible. The paper characterizes optimal regulatory schemes in a simple model and demonstrates that it may be optimal to limit the amount of information available to the regulator. Copyright (c) 1999 Massachusetts Institute of Technology.

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Article provided by Blackwell Publishing in its journal Journal of Economics & Management Strategy.

Volume (Year): 8 (1999)
Issue (Month): 1 (03)
Pages: 33-60
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Handle: RePEc:bla:jemstr:v:8:y:1999:i:1:p:33-60

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  1. Georg Meran & Christian Hirschhausen, 2009. "A modified yardstick competition mechanism," Journal of Regulatory Economics, Springer, vol. 35(3), pages 223-245, June. [Downloadable!] (restricted)
    Other versions:
  2. Potters, J.J.M. & Rockenbach, B. & Sadrieh, A. & Damme, E.E.C. van, 2003. "Collusion under yardstick competition an experimental study," Discussion Paper 97, Tilburg University, Center for Economic Research. [Downloadable!]
    Other versions:
  3. Tangerås, Thomas P., 2002. "Regulation of Cost and Quality under Yardstick Competition," Working Paper Series 573, Research Institute of Industrial Economics. [Downloadable!]
  4. Unal Zenginobuz & Haldun Evrenk, 2009. "Regulation Through a Revenue Contest," Working Papers 2009/01, Bogazici University, Department of Economics. [Downloadable!]
  5. Jeffrey I. Bernstein & David E. M. Sappington, 1998. "Setting the X Factor in Price Cap Regulation Plans," NBER Working Papers 6622, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  6. Tangerås, Thomas P., 1999. "Collusion-Proof Yardstick Competition," Seminar Papers 674, Stockholm University, Institute for International Economic Studies. [Downloadable!]
    Other versions:
  7. Robin Boadway & Maurice Marchand & Jean-François Tremblay, 2003. "Simultaneous Public and Private Provision of Services, Asymmetric Information and Innovation," Asia-Pacific Financial Markets, Springer, vol. 10(4), pages 317-339, August. [Downloadable!] (restricted)
    Other versions:
  8. Antoine Faure-Grimaud & Soenje Reiche, 2003. "Dynamic Yardstick Regulation," STICERD - Theoretical Economics Paper Series 459, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]
  9. Faure-Grimaud, Antoine & Reiche, Sönje Kerrin, 2003. "Dynamic Yardstick Regulation," CEPR Discussion Papers 4035, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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