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A Simple Theory of Deregulation

Author

Listed:
  • Pitchford, R.

Abstract

In traditional theories of regulation, any signal of a firm's activity that is informative will be used for an incentive scheme. This paper develops a simple theory of deregulation in which the manager of a firm is able to distort reports of firm activity, making the degreee of verifiability of performance endogenous. Sufficient conditions are derived for deregulation to be optimal despite the existence of a signal that contains information about the firm's activity.

Suggested Citation

  • Pitchford, R., 1998. "A Simple Theory of Deregulation," Papers 342, Australian National University - Department of Economics.
    • Handle: RePEc:fth:aunaec:342
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    More about this item

    Keywords

    DEREGULATION ; INFORMATION;

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General

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