Optimal Regulation of Research and Development under Imperfect Information
Abstract
The 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.Download Info
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Bibliographic Info
Article provided by The RAND Corporation in its journal Bell Journal of Economics.
Volume (Year): 13 (1982)
Issue (Month): 2 (Autumn)
Pages: 354-368
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Web page: http://www.rje.org
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Web: http://gemini.econ.umd.edu/cgi-bin/rje_online.cgi
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Eugenio J. Miravete, 2001. "Screening Through Bundling," Penn CARESS Working Papers 3b8e0b3847b08b90e8570987c, Penn Economics Department.
- Russell Cooper, 1983. "On Allocative Distortions in Problems of Self-Selection," Cowles Foundation Discussion Papers 647R, Cowles Foundation for Research in Economics, Yale University.
- Suzanne Scotchmer, 2000.
"Delegating Investment in a Common-Value Project,"
Industrial Organization
9912001, EconWPA.
- Suzanne Scotchmer., 1999. "Delegating Investment in a Common-Value Project," Economics Working Papers E99-266, University of California at Berkeley.
- P. Hägg, 1997. "Theories on the Economics of Regulation: A Survey of the Literature from a European Perspective," European Journal of Law and Economics, Springer, vol. 4(4), pages 337-370, December.
- Miravete, Eugenio J., 2011. "Convolution and composition of totally positive random variables in economics," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 479-490.
- Chifeng Dai, 2008. "Regulating a risk-averse firm under incomplete information," Journal of Regulatory Economics, Springer, vol. 34(1), pages 75-85, August.
- Rajeev K. Goel, 1999. "On contracting for uncertain R&D," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 20(2), pages 99-106.
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