Monopoly regulation without the Spence–Mirrlees assumption |
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Authors: | Jean-Charles Rochet |
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Affiliation: | aToulouse School of Economics, Toulouse, France |
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Abstract: | The paper extends the Baron and Myerson [Baron, D., Myerson, R.B., 1982. Regulating a monopolist with unknown costs. Econometrica 50, 911–930] model of monopoly regulation to bidimensional adverse selection: both the marginal cost and the fixed cost of the monopoly are unknown to the regulator. Like in Araujo and Moreira [Araujo, A., Moreira, H., 2000. Adverse section problems without the Spence–Mirrlees condition. Fundação Getulio Vargas, Rio de Janeiro, Ensaios Economicos 389], the paper provides an explicit solution of a screening model without the Spence–Mirrlees assumption. |
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Keywords: | Spence– Mirrlees condition Adverse selection Regulation |
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