Optimal regulation with unknown demand and cost functions

Article Abstract:

A study of the optimal conditions for regulating a firm with private information of both its cost and demand functions indicated two possible situations. An alignment of social and private incentives for pricing yielded straightforward and optimal prices above marginal costs. When these incentives diverged, or when demand uncertainty was more significant than cost uncertainty, optimal results are obtained for prices below marginal costs.

Industry self-regulation, Industry self regulation, Rate regulation, Price control, Price regulations, Cost (Economics), Costs (Economics), Demand functions (Economics), Demand functions

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A role for monetary policy when prices reveal information: an example

Article Abstract:

Research investigating ways in which monetary policies can determine revealed information is presented, on the basis of an example. Particular attention is given to the possibility for monetary policies to reveal all the information at equilibrium.

Research, Monetary policy

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Bertrand-Edgeworth competition, demand uncertainty, and asymmetric outcomes

Article Abstract:

Investment and pricing in a symmetric Bertrand-Edgeworth framework with demand uncertainty, are examined.

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