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The Effect of Uncertainty in Regulatory Delay on the Rate of Innovation

Braeutigam, Ronald R. (1979) The Effect of Uncertainty in Regulatory Delay on the Rate of Innovation. Social Science Working Paper, 266. California Institute of Technology , Pasadena, CA. (Unpublished)

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When a regulated firm considers the undertaking of an effort to innovate, it often faces incentives quite different from those confronting an unregulated firm. At least three types of uncertainty arise. First, will an innovative effort result in an implementable technology, and if so, when? Second, will the implementation of the technology be delayed by a regulatory authority, and if so, for how long? And finally, when the regulator permits the use of an innovation, what level of benefits will the firm ultimately receive?

Item Type:Report or Paper (Working Paper)
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Additional Information:This research was supported in part under a DOE grant, EY-76-G-03-1305, EQL Block. I wish to thank the Environmental Quality Laboratory at California Institute of Technology for its assistance in this research. I would also like to thank Louis Wilde, James Quirk, Roger Noll, Linda Cohen, Burt Klein, and M. J. Peck for their helpful comments on an earlier draft. Published as Braeutigam, Ronald R. "The effect of uncertainty in regulatory delay on the rate of innovation." Law and Contemporary Problems 43.1 (1979): 98-111.
Group:Social Science Working Papers
Funding AgencyGrant Number
Department of Energy (DOE)EY-76-G-03-1305
Subject Keywords:Technological innovation, Economic regulation, Transportation regulation, Commercial regulation, Present value, Tariffs, Industrial regulation, Rivalry, Fixed costs, Business innovation
Series Name:Social Science Working Paper
Issue or Number:266
Record Number:CaltechAUTHORS:20171017-134458507
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82425
Deposited By: Jacquelyn Bussone
Deposited On:17 Oct 2017 23:32
Last Modified:03 Oct 2019 18:54

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