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Monopoly regulation without the Spence-Mirrlees assumption

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Author Info

  • Rochet, Jean-Charles

Abstract

The paper extends the Baron and Myerson [Baron, D., Myerson, R.B., 1982. Regulating a monopolist with unknown costs. Econometrica 50, 911-930] model of monopoly regulation to bidimensional adverse selection: both the marginal cost and the fixed cost of the monopoly are unknown to the regulator. Like in Araujo and Moreira [Araujo, A., Moreira, H., 2000. Adverse section problems without the Spence-Mirrlees condition. Fundação Getulio Vargas, Rio de Janeiro, Ensaios Economicos 389], the paper provides an explicit solution of a screening model without the Spence-Mirrlees assumption.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 45 (2009)
Issue (Month): 9-10 (September)
Pages: 693-700

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Handle: RePEc:eee:mateco:v:45:y:2009:i:9-10:p:693-700

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Web page: http://www.elsevier.com/locate/jmateco

Related research

Keywords: Spence-Mirrlees condition Adverse selection Regulation;

References

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  1. Myerson, Roger B, 1979. "Incentive Compatibility and the Bargaining Problem," Econometrica, Econometric Society, vol. 47(1), pages 61-73, January.
  2. David P. Baron & Roger B. Myerson, 1979. "Regulating a Monopolist with Unknown Costs," Discussion Papers 412, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. M. L. Weitzman, 1973. "Prices vs. Quantities," Working papers 106, Massachusetts Institute of Technology (MIT), Department of Economics.
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Cited by:
  1. Laurence Jacquet & Etienne Lehmann & Bruno Van der Linden, 2012. "Signing Distortions in Optimal Tax and other Adverse Selection Problems with Random Participation," CESifo Working Paper Series 3766, CESifo Group Munich.
  2. Jacquet, Laurence & Lehmann, Etienne & Van der Linden, Bruno, 2013. "Optimal redistributive taxation with both extensive and intensive responses," Journal of Economic Theory, Elsevier, vol. 148(5), pages 1770-1805.
  3. Laurence Jacquet & Etienne lehmann & Bruno Van Der Linden, 2012. "Signing distortions in optimal tax or other adverse selection models with random participation," THEMA Working Papers 2012-27, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.

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