Regulation under Wealth Constraints
This article studies the problem of regulating a monopolist with unknown marginal cost. The problem described differs from Baron and Myerson  because we suppose that the regulator faces a cash-in-advance constraint. The introduction of such a constraint may lead to the collapse of the incentive system.
|Date of creation:||01 Jun 2000|
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- Mussa, Michael & Rosen, Sherwin, 1978. "Monopoly and product quality," Journal of Economic Theory, Elsevier, vol. 18(2), pages 301-317, August.
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