Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/2582
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dc.contributor.authorSağlam, İsmail-
dc.date.accessioned2019-12-25T12:52:13Z-
dc.date.available2019-12-25T12:52:13Z-
dc.date.issued2019-12
dc.identifier.citationSaglam, I. (2019). The Effect of Awareness and Observability on the Non-contractible Investment of a Regulated Natural Monopoly. Journal of Industry, Competition and Trade, 1-23.en_US
dc.identifier.issn1566-1679
dc.identifier.urihttps://hdl.handle.net/20.500.11851/2582-
dc.identifier.urihttps://doi.org/10.1007/s10842-019-00306-3-
dc.description.abstractThis paper studies the joint effect of the regulator’s ex-ante awareness and ex-post ability to observe on the non-contractible investment activities of a natural monopoly with private marginal cost information. We show that the investment activities are lower when the regulator is ex-ante aware of their existence and ex-post able to observe them than when the regulator is never aware of, and never able to observe, them. This result, which points to the regulated firm’s prevention of ratcheting, is in line with an earlier finding of Tirole (J Polit Econ 94:235–259 1986) obtained in a bargaining model of procurement with two-sided asymmetric information. We also find that the producer welfare and the social surplus is always ex-ante higher when the regulator is unaware of its investment activities than when she is aware. Moreover, our computations show that depending on the specifications of our model, the unawareness of the regulator may positively affect the expected consumer and social welfares, as well.en_US
dc.language.isoenen_US
dc.publisherSpringer New York LLCen_US
dc.relation.ispartofJournal of Industry, Competition and Tradeen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectMonopolyen_US
dc.subjectRegulationen_US
dc.subject Investmenten_US
dc.subject Awarenessen_US
dc.subject Observabilityen_US
dc.subject Asymmetric informationen_US
dc.titleThe Effect of Awareness and Observability on the Non-contractible Investment of a Regulated Natural Monopolyen_US
dc.typeArticleen_US
dc.departmentFaculties, Faculty of Economics and Administrative Sciences, Department of Economicsen_US
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümütr_TR
dc.identifier.volume19
dc.identifier.issue4
dc.identifier.startpage617
dc.identifier.endpage639
dc.authorid0000-0002-9561-9476-
dc.identifier.wosWOS:000494633500004en_US
dc.identifier.scopus2-s2.0-85065323179en_US
dc.institutionauthorSağlam, İsmail-
dc.identifier.doi10.1007/s10842-019-00306-3-
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.identifier.scopusqualityQ3-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.grantfulltextnone-
item.fulltextNo Fulltext-
item.openairetypeArticle-
item.cerifentitytypePublications-
item.languageiso639-1en-
crisitem.author.dept04.01. Department of Economics-
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection
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