Optimal Regulation of Research and Development under Imperfect Information
AbstractThe optimal regulatory strategy to promote research and development aimed at cost reduction is derived for an environment in which the firm's information about the technology of cost reduction, although initially imperfect, is better than that of the regulator. The manner in which the optimal regulatory strategy varies with changes in the informational environment is also described.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal Bell Journal of Economics.
Volume (Year): 13 (1982)
Issue (Month): 2 (Autumn)
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Web page: http://www.rje.org
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- Scotchmer, Suzanne, 1999.
"Delegating Investment in a Common-Value Project,"
Department of Economics, Working Paper Series
qt4vb8z67z, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Linda Cohen & Amihai Glazer, 2014. "Forward Markets to Spur Innovation," Working Papers 131405, University of California-Irvine, Department of Economics.
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