Regulation and Access Pricing with Asymmetric Information
We study in this paper whether the price charged to a competitor for the use of an essential input produced in conditions of natural monopoly should reflect only considerations of relative efficiency between the various potential suppliers. In a model that captures the technological conditions operating in industries such as telephony, gas, rail, where access to a distribution network is essential to the ability to compete, we show that this is not the case. Instead, the access price should be set `pro-competitively': it may be socially optimal to award production to a firm less efficient than the owner of the network.
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- Caillaud, Bernard, 1990. "Regulation, competition, and asymmetric information," Journal of Economic Theory, Elsevier, vol. 52(1), pages 87-110, October.
- Jean Tirole & Jean-Jaques Laffont, 1985.
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Econometric Society, vol. 50(4), pages 911-30, July.
- Laffont, Jean-Jacques & Tirole, Jean, 1994.
"Access pricing and competition,"
European Economic Review,
Elsevier, vol. 38(9), pages 1673-1710, December.
- Laffont, Jean-Jacques & Tirole, Jean, 1992. "Access Pricing and Competition," IDEI Working Papers 19, Institut d'Économie Industrielle (IDEI), Toulouse.
- Jean-Jacques Laffont & Jean Tirole, 1994. "Access Pricing and Competition," Working papers 94-31, Massachusetts Institute of Technology (MIT), Department of Economics.
- J-J. Laffont & J. Tirole, 1994. "Access Pricing and Competition," Working papers 95-11, Massachusetts Institute of Technology (MIT), Department of Economics.
- Hart, O. & Tirole, J., 1990. "Vertical Integration And Market Foreclosure," Working papers 548, Massachusetts Institute of Technology (MIT), Department of Economics.
- Laffont, Jean-Jacques & Tirole, Jean, 1990. "Optimal Bypass and Cream Skimming," American Economic Review, American Economic Association, vol. 80(5), pages 1042-61, December.
- Vagliasindi, M. & Waterson, M., 1995. "New Insights on the Interactions Between Regulation and Competition in Vertically Related Markets," The Warwick Economics Research Paper Series (TWERPS) 438, University of Warwick, Department of Economics.
- Price, Catherine, 1994. "Transportation charges in the gas industry," Utilities Policy, Elsevier, vol. 4(3), pages 191-197, July.
- Laffont, Jean-Jacques & Tirole, Jean, 1996. "Creating Competition through Interconnection: Theory and Practice," Journal of Regulatory Economics, Springer, vol. 10(3), pages 227-56, November.
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