English, Article, Journal or magazine article edition: Incomplete Regulation, Asymmetric Information and Collusion-Proofness Marco Meireles; Paula Sarmento

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Bookmark: http://trove.nla.gov.au/version/182536
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Incomplete Regulation, Asymmetric Information and Collusion-Proofness
Author
  • Marco Meireles
  • Paula Sarmento
Physical Description
  • preprint
Notes
  • In an incomplete regulation framework the Regulator cannot replicate all the possible outcomes by himself since he has no influence on some firms present in the market. When facing asymmetric information regarding the regulated firm’s costs, it may be better for the Regulator to allow the other competitors to extract a truthful report from her through side-payments in a collusion and therefore the “Collusion-Proofness Principle” may not hold. In fact, by introducing an exogenous number of unregulated competitors, Social Welfare differences seem to favour a Collusion-Allowing equilibrium. However, such result will strongly depend on the relative importance given by the Regulator to the Consumer Surplus.
  • Incomplete Regulation, Asymmetric Information, Collusion, Market Competition
  • RePEc:por:fepwps:320
Language
  • English
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