Regulation by Prices and by Command
AbstractStandard economic theory states that regulation by price is more efficient than regulation by command and control. Exceptions may arise if regulators have good knowledge of the supply curve. In practice, though, governments usually regulate by command and control and do so when there is uncertainty about the technology of supply. We show that government may prefer to regulate by command and control when it cares about the investment decisions of a firm. Copyright 1996 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Regulatory Economics.
Volume (Year): 9 (1996)
Issue (Month): 2 (March)
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Web page: http://www.springerlink.com/link.asp?id=100298
Other versions of this item:
- Glazer, Amihai & Lave, Charles, 1995. "Regulation by Prices and by Command," University of California Transportation Center, Working Papers qt6bs9v6wk, University of California Transportation Center.
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