The Design of Regulations Expressed as Ratios or Percentage Quotas
Regulations (such as pollution standards) are frequently expressed as a uniform ratio between a target variable and a base variable. The efficient form of such regulations is firm-specific. When firms are very different in size, large firms typically should face a relatively more stringent constraint, but this ranking may easily reverse when firms are more similar. Efficiency costs of uniform ratio standards are calculated. Copyright 2001 by Kluwer Academic Publishers
Volume (Year): 19 (2001)
Issue (Month): 3 (July)
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