Government Intervention in Production and Incentives Theory: A Review of Recent Contributions

This article reviews the recent literature on regulation under asymmetric information. We first develop the conceptual framework and offer a reminder of the techniques used in the field. Then we apply the framework and techniques to a variety of situations-with or without the use of accounting data....

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Bibliographic Details
Published in:The Rand journal of economics 1988-04, Vol.19 (1), p.1-26
Main Authors: Caillaud, B., Guesnerie, R., Rey, P., Tirole, J.
Format: Article
Language:English
Subjects:
Contracts
Cost efficiency
Cost functions
Economic models
Economic regulation
Economic rent
Economic theory
Fixed costs
Marginal costs
Mathematical models
Production
Productivity
Regulation
Social welfare
State intervention
Welfare economics
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Summary:This article reviews the recent literature on regulation under asymmetric information. We first develop the conceptual framework and offer a reminder of the techniques used in the field. Then we apply the framework and techniques to a variety of situations-with or without the use of accounting data. Next, we extend the analysis to dynamics with or without commitment. We conclude with a discussion of desirable directions for research.
ISSN:0741-6261
1756-2171
DOI:10.2307/2555394