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Multiproduct Price Regulation under Asymmetric Information

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Author Info
Armstrong, Mark
Vickers, John

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Abstract

We discuss the regulation of a multiproduct monopolist when the firm has private information about cost or demand conditions. The regulator offers the firm a set of prices from which to choose. When there is private information only about costs, the firm should always have a degree of discretion over its pricing policy. When uncertainty concerns demand, whether discretion is desirable depends on how demand elasticities vary with the scale of demands. If a positive demand shock is associated with a reduction in the market elasticity, discretion is good for overall welfare; otherwise it is not. Copyright 2000 by Blackwell Publishing Ltd

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Article provided by Blackwell Publishing in its journal Journal of Industrial Economics.

Volume (Year): 48 (2000)
Issue (Month): 2 (June)
Pages: 137-60
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Handle: RePEc:bla:jindec:v:48:y:2000:i:2:p:137-60

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  1. Giuseppe Coco & Claudio De Vincenti, 2003. "Can Regulation Increase Firm'S Efficiency?," Working Papers 60, Sapienza University of Rome, Department of Public Economics. [Downloadable!]
  2. Alberto Iozzi & Roberta Sestini & Edilio Valentini, 2005. "Pricing Discretion and Price Regulation in Competitive Industries," CEIS Research Paper 69, Tor Vergata University, CEIS. [Downloadable!]
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  3. María Angeles García Valiñas, 2004. "Eficiencia y equidad en el diseño de precios óptimos para bienes y servicios públicos," Hacienda Pública Española, IEF, vol. 168(1), pages 95-119, march. [Downloadable!]
  4. Pierre-Henri MORAND & Lionel THOMAS, 2006. "Efficient procurement with quality concerns," Discussion Papers (REL - Recherches Economiques de Louvain) 2006022, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
  5. Alberto Iozzi & Carla Pace & Roberta Sestini & Edilio Valentini, 2001. "On The Effects Of Regulating Price Discrimination By A Price Capped Firm," Departmental Working Papers 149, Tor Vergata University, CEIS. [Downloadable!]
  6. Jean-Charles Rochet & Jean Tirole, 2006. "Externalities and Regulation in Card Payment Systems," Review of Network Economics, Concept Economics, vol. 5(1), pages 1-14, March. [Downloadable!]
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