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A Re-examination of Yardstick Competition

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Author Info
Joel Sobel

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Abstract

I observe that yardstick competition does not assist a regulator when lump-sum transfers are not costly and the regulator does not care about the distribution of income. Yardstick competition discourages investment that would make efficient operation possible. I characterize optimal regulatory schemes in a simple model and demonstrate that it is generally optimal to limit the amount of information available to the regulator.

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Paper provided by Department of Economics, UC San Diego in its series University of California at San Diego, Economics Working Paper Series with number 97-25.

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Date of creation: Oct 1997
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Handle: RePEc:cdl:ucsdec:97-25

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  1. Potters, J.J.M. & Rockenbach, B. & Sadrieh, A. & Damme, E.E.C. van, 2003. "Collusion under yardstick competition an experimental study," Discussion Paper 97, Tilburg University, Center for Economic Research. [Downloadable!]
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  2. Tangerås, Thomas P., 2002. "Regulation of Cost and Quality under Yardstick Competition," Working Paper Series 573, Research Institute of Industrial Economics. [Downloadable!]
  3. Tangerås, Thomas P., 1999. "Collusion-Proof Yardstick Competition," Seminar Papers 674, Stockholm University, Institute for International Economic Studies. [Downloadable!]
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  4. Robin Boadway & Maurice Marchand & Jean-François Tremblay, 2003. "Simultaneous Public and Private Provision of Services, Asymmetric Information and Innovation," Asia-Pacific Financial Markets, Springer, vol. 10(4), pages 317-339, August. [Downloadable!] (restricted)
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  5. Unal Zenginobuz & Haldun Evrenk, 2009. "Regulation Through a Revenue Contest," Working Papers 2009/01, Bogazici University, Department of Economics. [Downloadable!]
  6. Georg Meran & Christian von Hirschhausen, 2006. "A Modified Yardstick Competition Mechanism," Discussion Papers of DIW Berlin 559, DIW Berlin, German Institute for Economic Research. [Downloadable!]
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  7. Jeffrey I. Bernstein & David E. M. Sappington, 1998. "Setting the X Factor in Price Cap Regulation Plans," NBER Working Papers 6622, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  8. Faure-Grimaud, Antoine & Reiche, Sönje Kerrin, 2003. "Dynamic Yardstick Regulation," CEPR Discussion Papers 4035, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  9. Antoine Faure-Grimaud & Soenje Reiche, 2003. "Dynamic Yardstick Regulation," STICERD - Theoretical Economics Paper Series 459, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]
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This page was last updated on 2009-10-21.

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