Appropriate regulation means maximizing the benefits from removing market failures in relation to the costs of government intervention. Monopoly markets fail because of both allocative and cost inefficiencies. The former are measured by Harberger's little triangles and the latter by big rectangles. Regulation that mitigates allocative inefficiency while exacerbating cost inefficiency is inappropriate because the costs of intervention outweigh the...
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INFORMATION
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1994/03/31
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Publication
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14339
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1
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1
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2010/07/01
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Disclosed
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Appropriate regulatory technology : the interplay of economic and institutional conditions
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Socialist countries
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