Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/18452 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
DIW Discussion Papers No. 559
Verlag: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Zusammenfassung: 
This paper analyzes a modified yardstick competition mechanism (MYC), where the yardstick employed consists of a tariff basket and total costs. This mechanism has a significant information advantage: the regulator ?only? needs to observe total costs and output of all firms. The modified yardstick competition mechanism can ensure a socially optimal outcome when allowing for spatial and second degree price discrimination, without increasing the informational requirements. We also introduce regulatory lags in the model. A systematic comparison between the results of traditional yardstick regulation and modified yardstick regulation is carried out. Finally, we discuss the applicability of the mechanism.
Schlagwörter: 
regulation
yardstick competition
mechanism design
information asymmetry
JEL: 
L11
L51
D40
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
291.18 kB





Publikationen in EconStor sind urheberrechtlich geschützt.