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Author : Fridolin Eugen Marty
Publisher :
ISBN 13 : 9783898251976
Total Pages : 117 pages
Book Rating : 4.2/5 (519 download)
Download or read book Credence Goods in Regulated Markets written by Fridolin Eugen Marty and published by . This book was released on 2000 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Joachim Heinzel
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book Credence Goods Markets with Fair and Opportunistic Experts written by Joachim Heinzel and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Winand Emons
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Credence Goods and Fraudulent Experts written by Winand Emons and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article is about a market for credence goods. With a credence good, consumers are never sure about the extent of the good they actually need. Therefore, sellers act as experts determining the customers' requirements. This information asymmetry between buyers and sellers obviously creates strong incentives for sellers to cheat on services. I analyze whether the market mechanism may induce nonfraudulent seller behavior. From the observation of market data such as prices, market shares, etc., consumers can infer the sellers' incentives. I show that market equilibria resulting in nonfraudulent behavior do indeed exist.
Author : Peter D. Spencer
Publisher : OUP Oxford
ISBN 13 : 0191586862
Total Pages : 286 pages
Book Rating : 4.1/5 (915 download)
Download or read book The Structure and Regulation of Financial Markets written by Peter D. Spencer and published by OUP Oxford. This book was released on 2000-10-12 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aimed at advanced undergraduate and graduate students in economics, banking, and finance, this is a core textbook for the financial markets, institutions, and regulation option of courses in financial economics. It integrates modern theories of asymmetric information into the analysis of financial institutions, relating the theory to current developments. The text begins with an analysis of adverse selection in retail financial products like life assurance before looking at open capital markets where trades and prices provide information. It then progresses to the more complex areas of corporate governance and financial intermediation in which information is concealed or confidential and moral hazard and verification problems become important. These chapters study the various mechanisms that the financial markets have developed to allow investors to delegate the management of their assets to others. This analysis is used to show how regulation can reduce the risk of financial failure and how legal, accounting, and regulatory mechanisms can help shape a country's corporate and financial architecture. These difficult theoretical concepts are conveyed through the careful use of numerical illustrations and topical case studies. Each chapter ends with a set of exercises to test and reinforce students' comprehension of the material. Worked solutions are provided for the numerical exercises.
Author : Ting Liu
Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.:/5 (474 download)
Download or read book New Product Launch, Learning, and Credence Goods written by Ting Liu and published by . This book was released on 2008 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: My dissertation comprises three chapters on industrial organization and health economics. The first Chapter studies a monopolist's product launch strategy. The second Chapter studies credence goods markets. The third chapter analyzes informal payments in public health sectors of developing countries. In the first Chapter, joint with Pasquale Schiraldi, we study how a monopolist should launch a new product to distinct markets when the uncertainty of the product's quality is resolved over time. We examine how the monopolist may influence consumer learning by manipulating the launch sequence when the monopolist and consumers can learn about the quality of the product from previous sales. Depending on the price of the product and the general reputation of the product, the monopolist may prefer a sequential launch to a simultaneous launch. We derive the optimal number of markets in which the monopolist will launch the product in each period. The monopolist's dynamic equilibrium strategy endogenizes informational herding. In the second Chapter, I study credence goods markets when an expert is either selfish or conscientious. A selfish expert is a profit maximizer. A conscientious expert wants to maximize profit and repair the consumer's problem. In a monopoly model, there are only uniform-price equilibria and nonuniform-price equilibria. I study whether a consumer can infer the expert's type from his equilibrium price list and analyze the efficiency of an equilibrium. Finally, I check the robustness of each class of equilibria for a competitive setting. In the third Chapter, joint with Monic Jiayin Sun, we study informal payments in public health sectors of many developing countries. Such payments are made by patients to providers for services which are supposed to be supplied by public health care sectors. Informal payments are made because the allocation mechanism in the public sector fails to take into account provider or patient circumstance. We compare welfare implications of different policies that regulate informal payments. Patient and provider heterogeneity play a central role in the comparison.
Author : Ioannis Lianos
Publisher : Cambridge University Press
ISBN 13 : 1107378354
Total Pages : 515 pages
Book Rating : 4.1/5 (73 download)
Download or read book Regulating Trade in Services in the EU and the WTO written by Ioannis Lianos and published by Cambridge University Press. This book was released on 2012-03-22 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume assesses the viability of various theories of economic integration that take into account the legal, economic, political and social challenges of incorporating free trade with retaining the plurality of social welfare standards and consumer protection. Chapters cover the governance of trade in services at the European and global level; studies on the recent Services Directive and how this interacts with the principle of managed mutual recognition and harmonization in different sectors of trade in services (social services, financial services); the recent case law of the European Courts on the enforcement of the principle of free movement of services and how this accommodates various national public interest concerns; and the interaction of the freedom to provide services with fundamental rights, including social rights. The operation of the principle of managed mutual recognition in other economic integration regimes, in particular in the context of the WTO, is also discussed.
Author : Emmanuelle Auriol
Publisher : Cambridge University Press
ISBN 13 : 1108996329
Total Pages : 455 pages
Book Rating : 4.1/5 (89 download)
Download or read book Regulating Public Services written by Emmanuelle Auriol and published by Cambridge University Press. This book was released on 2021-10-21 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation is one of the tools used by governments to control monopolistic behaviour in the provision of public services such as electricity, transport or water. Technological and financial innovations have changed these public services markets since the 1990s, bringing new regulatory challenges, including technological and financial ones. This book demonstrates that basic regulatory theory and tools can address these new challenges, in addition to more traditional regulatory issues, both in developed and developing economies. The theory covered in the book is robust enough to guide regulators in multiple contexts, including those resulting from the effects of financial or political constraints, evolving market structures or the need to adapt to institutional weaknesses, climate change and poverty concerns that demand regulatory intervention. A bridge between theory and an evolving global practice, this book mobilizes the lessons of the past to analyse the future of economic regulation.
Author : Frank H Stephen
Publisher : Edward Elgar Publishing
ISBN 13 : 1781002681
Total Pages : 192 pages
Book Rating : 4.7/5 (81 download)
Download or read book Lawyers, Markets and Regulation written by Frank H Stephen and published by Edward Elgar Publishing. This book was released on 2013-10-31 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book surveys where the most recent and radical liberalization involving the ownership of law firms by non-lawyers is likely to lead, and appraises the economic literature on the costs and benefits of regulating markets for professional services. It
Author : Shigeru Matsumoto
Publisher : CRC Press
ISBN 13 : 1315296209
Total Pages : 307 pages
Book Rating : 4.3/5 (152 download)
Download or read book Consumer Perception of Food Attributes written by Shigeru Matsumoto and published by CRC Press. This book was released on 2018-06-19 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Food credence attributes are food features that are difficult to verify even after consumption. Consumers, today, are concerned about many food credence attributes, including animal rights, contamination risk, fair trade practice, genetic modification, geographical origin, and organic farming. For the past several decades, many scholars have analyzed the value consumers place on credence attributes and have reported that consumers will pay a premium for foods with these desirable properties. In addition, their studies reveal that individual consumers place greater importance on some credence attributes than others. For example, some are seriously concerned about animal welfare, while others are solely concerned about food safety. One of the objectives of this book is to summarize recent empirical findings from scholarly works on how consumers value food credence attributes. Such knowledge would benefit producers, processors, retailers, and policy makers. Another objective of this book is to discuss the effectiveness of the programs that have been introduced to strengthen the relationship between producers and consumers. Many programs have been developed to more effectively inform consumers regarding food production processes.
Author : Petros C. Mavroidis
Publisher : MIT Press
ISBN 13 : 0262044552
Total Pages : 753 pages
Book Rating : 4.2/5 (62 download)
Download or read book The Regulation of International Trade, Volume 3 written by Petros C. Mavroidis and published by MIT Press. This book was released on 2020-11-24 with total page 753 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive analysis of GATS that considers its historical context, the national preferences that shaped it, and a path to a GATS 2.0. The previous two volumes in The Regulation of International Trade analyzed the General Agreement on Tariffs and Trade (GATT), the first successful agreement to generate multilateral trade liberalization, and the World Trade Organization (WTO), for which the GATT laid the groundwork. In this third volume, Petros Mavroidis turns to the General Agreement on Trade in Services (GATS), a WTO treaty that took effect in 1995, and offers a comprehensive analysis that considers the historical context of the GATS, the national preferences that shaped it, and a path to a GATS 2.0. Mavroidis examines the GATS through its negotiating record, considering whether the GATS as it is can appropriately address the concerns of the world trading community. The GATS deals exclusively with non-tariff barriers (NTBs)—precisely the instrument that the WTO has not managed to tame—and one of some significance in light of the digital revolution, which has enlarged the scope of cross-border transactions in which neither supplier nor consumer needs to travel for a service to be consumed. Mavroidis argues that the GATS has brought about a platform to liberalize services, and has locked in some pre-GATS liberalization. What is missing, he contends, is a “GATS-Think” that would generate liberalization from now on.
Author : Margherita Colangelo
Publisher : Bloomsbury Publishing
ISBN 13 : 1509965521
Total Pages : 257 pages
Book Rating : 4.5/5 (99 download)
Download or read book Regulation, Innovation and Competition in Pharmaceutical Markets written by Margherita Colangelo and published by Bloomsbury Publishing. This book was released on 2023-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the fundamental and inextricable relationship between regulation, intellectual property, competition law, and public health in pharmaceutical markets, examining their interconnections and the delicate balance between the various interests and policy goals at stake. Although pharmaceutical markets are heavily regulated and subject to close antitrust scrutiny, there is a constant requirement for existing rules and policies to tackle a number of persistent, complex issues. The variety of anti-competitive practices occurring in this sector, the worrying rise in drug prices, and major, far-reaching concerns over the accessibility of medicines are sources of frequent controversy in academic and policy debates. Understanding the unique features and dynamics of the pharmaceutical industry requires a tailored and multifaceted approach. The study is enhanced by the adoption of a comparative perspective, tracing convergence and divergence between EU and US systems through the analysis of relevant applicable rules, significant cases, and policy choices. Pursuant to this rigorous approach, the book provides an original and thought-provoking critique of the challenges of regulating pharmaceutical markets.
Author : Edward J. Balleisen
Publisher : Cambridge University Press
ISBN 13 : 0521118484
Total Pages : 579 pages
Book Rating : 4.5/5 (211 download)
Download or read book Government and Markets written by Edward J. Balleisen and published by Cambridge University Press. This book was released on 2010 with total page 579 pages. Available in PDF, EPUB and Kindle. Book excerpt: After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory reforms will be rooted in outdated ideas. As the financial crisis has shown, neither traditional market failure models nor public choice theory, by themselves, sufficiently inform or explain our current regulatory challenges. Regulatory studies, long neglected in an atmosphere focused on deregulatory work, is in critical need of new models and theories that can guide effective policy-making. This interdisciplinary volume points the way toward the modernization of regulatory theory. Its essays by leading scholars move past predominant approaches, integrating the latest research about the interplay between human behavior, societal needs, and regulatory institutions. The book concludes by setting out a potential research agenda for the social sciences.
Author : Christopher Ruof
Publisher : Springer Nature
ISBN 13 : 3031329716
Total Pages : 449 pages
Book Rating : 4.0/5 (313 download)
Download or read book Regulating Financial Innovation written by Christopher Ruof and published by Springer Nature. This book was released on 2023-10-01 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the impact of 'Fintech' on the information asymmetry between the financial regulator and the markets. It details the growing regulatory mismatch and how Fintech exacerbates the “pacing problem”, where the regulator struggles to keep up with innovation. With information as a point of reference, the book adds a new perspective on the latest phenomenon in financial innovation and presents a novel framework for navigating structural changes in the financial sector. Based on this analysis, a number of proposals to reduce the information gap and avoid regulatory mismatch are discussed. Thereby, new and promising regulatory concepts, such as regulatory sandboxes and SupTech applications are also covered. This book provides a practical framework for regulatory responses to financial innovation. It will be relevant to researchers and practitioners interested in financial technology and regulation.
Author : Anthony I Ogus
Publisher : Bloomsbury Publishing
ISBN 13 : 1847313299
Total Pages : 382 pages
Book Rating : 4.8/5 (473 download)
Download or read book Regulation written by Anthony I Ogus and published by Bloomsbury Publishing. This book was released on 2004-10-15 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a reprint of Anthony Ogus' classic study of regulation,first published in the 1990s. It examines how, since the last decades of the twentieth century there have been fundamental changes in the relationship between the state and industry. With the aid of economic theory Anthony Ogus critically examines the ways in which public law has been adapted to the task of regulating industrial activity and provides a systematic overview of the theory and forms of social and economic regulation. In particular, he explores the reasons why governments regulate, for which, broadly speaking, two theoretical frameworks exist. First 'public interest' theories determine that regulation should aim to improve social and economic welfare. Second, 'economic' theories suggest that regulation should aim to satisfy the demands of private interests. The book also looks at the evolution of the forms of regulation in Britain, extending to the policies of privatization and deregulation which were so characteristic of the period. The author skilfully evaluates the advantages and disadvantages of the different forms of regulation, particularly in the light of the two theoretical frameworks, but also by involving an analysis of how firms respond to the various kinds of incentives and controls offered by government. A significant feature of the book is its analysis of the choices made by governments between the different forms of regulation and the influence exerted by interest groups (including bureaucrats) and EC law.
Author : Barry Krissoff
Publisher : Springer Science & Business Media
ISBN 13 : 1475753292
Total Pages : 256 pages
Book Rating : 4.4/5 (757 download)
Download or read book Global Food Trade and Consumer Demand for Quality written by Barry Krissoff and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers have always been concerned about the quality, and particularly the safety, of the foods they eat. In recent years this concern has taken on additional prominence. Consumer focus on food safety has been sharpened by reports about new risks, such as that posed by "mad cow" disease, and about more familiar sources of risk, such as food borne pathogens, pesticides, and hormones. At the same time, some consumers are in creasingly interested in knowing more about how their food is produced and in selecting products based on production practices. Some of the questions consumers are asking in clude whether food is produced with the use of modern biotechnology, whether it is or ganically produced, how animals are treated in meat and egg production systems, and whether food is produced using traditional methods. Recent trends also show increased consumer demand for a variety of food products that are fresh, tasty, and available on a year-round basis. This has fostered increased global trade in food. For example, consumers in temperate climates such as North America are able to buy raspberries throughout the year, and Europeans can enjoy South American coffee. Trade in processed food products is actually increasing more rapidly than trade in agricultural commodities, further addressing the demand for variety among consumers.
Author : Barbara Gabor
Publisher : Edward Elgar Publishing
ISBN 13 : 1781003386
Total Pages : 349 pages
Book Rating : 4.7/5 (81 download)
Download or read book Regulatory Competition in the Internal Market written by Barbara Gabor and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Regulatory competition within Europe and internationally, operates in several fields with different outcomes. This book offers a comparative legal and economic analysis of corporate, securities and competition law, exploring the reasons behind such differences. The books conceptual framework covers the most relevant drivers of competition, including legal actors incentives, channels of competition and governance design. It shows how the different drivers and institutional designs are shaping competitive interactions, drawing relevant conclusions for both general and field specific regulatory policy. Providing a comparative analysis of regulatory competition in three legal fields, this book will be a valuable resource for researchers and academics in law, economics and political science, as well as policymakers legislator, regulator, judiciary at both national and European levels."--Publisher
Author : Ajay Bhaskarabhatla
Publisher : Springer
ISBN 13 : 3319933930
Total Pages : 304 pages
Book Rating : 4.3/5 (199 download)
Download or read book Regulating Pharmaceutical Prices in India written by Ajay Bhaskarabhatla and published by Springer. This book was released on 2018-08-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an extensive study on the effectiveness of recent regulations on pharmaceutical prices in India, exploring the weaknesses in the design and implementation of pharmaceutical price controls and investigating what can be done to fix the broken system. In addition, it examines the extent to which essential medicines are actually made affordable by price controls. The book argues that companies make the pharmaceutical price control regime largely ineffective by coordinating to increase pre-regulation prices; by diversifying horizontally away from the regulated markets and increasing prices in the unregulated markets; by manipulating trade margins; and by refusing to comply with the regulation because the penalties remains negligible. The book draws on extensive empirical research involving India’s 2013 Drug Price Control Order and widely-used medicines such as paracetamol and metformin to illustrate how firms have weakened regulation. It argues that the regulatory regime can be strengthened by using systematic analysis of product- and region-level data in the Indian pharmaceutical industry, and by screening for the strategies that firms currently employ to circumvent regulation. In closing, it discusses recent efforts to strengthen the implementation of price controls in India and expanding the scope of price controls to medical devices.
