Investment without regulatory commitment: The case of elastic demand

This paper analyzes a regulation game with asymmetric information and lack of commitment. It expands Besanko and Spulber's (1989) framework to the case of elastic demands using a generalized Nash solution. It is found that the most important property of the equilibrium with inelastic demand is...

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Detalles Bibliográficos
Autor principal:	Urbiztondo, Santiago
Formato:	Articulo
Lenguaje:	Inglés
Publicado:	1994
Materias:	Ciencias Económicas Complete information Information asymmetry Economics Microeconomics Public finance Investment (macroeconomics) Nash solution Price elasticity of demand
Acceso en línea:	http://sedici.unlp.edu.ar/handle/10915/123345
Aporte de:	SEDICI (UNLP) de Universidad Nacional de La Plata

id	I19-R120-10915-123345
record_format	dspace
institution	Universidad Nacional de La Plata
institution_str	I-19
repository_str	R-120
collection	SEDICI (UNLP)
language	Inglés
topic	Ciencias Económicas Complete information Information asymmetry Economics Microeconomics Public finance Investment (macroeconomics) Nash solution Price elasticity of demand
spellingShingle	Ciencias Económicas Complete information Information asymmetry Economics Microeconomics Public finance Investment (macroeconomics) Nash solution Price elasticity of demand Urbiztondo, Santiago Investment without regulatory commitment: The case of elastic demand
topic_facet	Ciencias Económicas Complete information Information asymmetry Economics Microeconomics Public finance Investment (macroeconomics) Nash solution Price elasticity of demand
description	This paper analyzes a regulation game with asymmetric information and lack of commitment. It expands Besanko and Spulber's (1989) framework to the case of elastic demands using a generalized Nash solution. It is found that the most important property of the equilibrium with inelastic demand is not carried over to the elastic demand case, i.e., incomplete information worsens underinvestment, contrasting to Besanko and Spulber's result.
format	Articulo Articulo
author	Urbiztondo, Santiago
author_facet	Urbiztondo, Santiago
author_sort	Urbiztondo, Santiago
title	Investment without regulatory commitment: The case of elastic demand
title_short	Investment without regulatory commitment: The case of elastic demand
title_full	Investment without regulatory commitment: The case of elastic demand
title_fullStr	Investment without regulatory commitment: The case of elastic demand
title_full_unstemmed	Investment without regulatory commitment: The case of elastic demand
title_sort	investment without regulatory commitment: the case of elastic demand
publishDate	1994
url	http://sedici.unlp.edu.ar/handle/10915/123345
work_keys_str_mv	AT urbiztondosantiago investmentwithoutregulatorycommitmentthecaseofelasticdemand
bdutipo_str	Repositorios
_version_	1764820449359822848

Investment without regulatory commitment: The case of elastic demand

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