La regolazione dei servizi pubblici in condizione di informazione asimmetrica
AbstractThe aim of this paper is to review the main features of the new theory of public utilities regulation, theoretically assuming asymmetric information. The results considered imply a departure from first best outcomes and give way to a strategic interaction between firm and regulator. The role of the constraints of participation and incentive-compatibility faced by the regulator trying to improve efficiency is also highlighted. The institutional nature of the regulation prevails over the technological one and sheds new light on the issues concerning public intervention in this field.
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Bibliographic InfoPaper provided by University of Rome La Sapienza, Department of Public Economics in its series Working Papers with number 31.
Date of creation: Jun 1999
Date of revision:
regulation; asymmetric information.;
Find related papers by JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
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