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Monopoly regulation without the Spence-Mirrlees assumption

  • Rochet, Jean-Charles

The paper extends the Baron and Myerson [Baron, D., Myerson, R.B., 1982. Regulating a monopolist with unknown costs. Econometrica 50, 911-930] model of monopoly regulation to bidimensional adverse selection: both the marginal cost and the fixed cost of the monopoly are unknown to the regulator. Like in Araujo and Moreira [Araujo, A., Moreira, H., 2000. Adverse section problems without the Spence-Mirrlees condition. Fundação Getulio Vargas, Rio de Janeiro, Ensaios Economicos 389], the paper provides an explicit solution of a screening model without the Spence-Mirrlees assumption.

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File URL: http://www.sciencedirect.com/science/article/B6VBY-4T9CD02-1/2/099b85125e298eec813e519d53848d65
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Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 45 (2009)
Issue (Month): 9-10 (September)
Pages: 693-700

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Handle: RePEc:eee:mateco:v:45:y:2009:i:9-10:p:693-700
Contact details of provider: Web page: http://www.elsevier.com/locate/jmateco

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  1. Araújo, Aloísio Pessoa de & Moreira, Humberto Ataíde, 2000. "Adverse Selection Problems Without the Spence-Mirrlees Condition," Economics Working Papers (Ensaios Economicos da EPGE) 389, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  2. Weitzman, Martin L, 1974. "Prices vs. Quantities," Review of Economic Studies, Wiley Blackwell, vol. 41(4), pages 477-91, October.
  3. Baron, David P & Myerson, Roger B, 1982. "Regulating a Monopolist with Unknown Costs," Econometrica, Econometric Society, vol. 50(4), pages 911-30, July.
  4. Myerson, Roger B, 1979. "Incentive Compatibility and the Bargaining Problem," Econometrica, Econometric Society, vol. 47(1), pages 61-73, January.
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