The paper argues that to achieve compliance of firms with regulations such as product quality or environmental or health standards it is better to have industries with a few large corporations than numerous small firms. A model is constructed to show that limited liability constraints bind more easily in competitive industries, making it harder to impose sufficiently severe penalties and costlier to send sufficient monitors. Having large corporations...
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INFORMATION
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2014/05/01
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Document de travail de recherche sur les politiques
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WPS6860
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1
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1
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2014/05/01
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Disclosed
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Too small to regulate
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large corporation
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