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A Dynamic Theory of Regulation

Klein, Burton H. (1978) A Dynamic Theory of Regulation. Social Science Working Paper, 199. California Institute of Technology , Pasadena, CA. (Unpublished)

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According to the theory presented in this paper, economic regulation does not ordinarily result from market failure; nor does it ordinarily result from an attempt to divide monopoly profits among a smaller, rather than larger, number of firms. It results from a difference in utility functions with respect to both individuals and firms: for example, when older firms in an industry lose their taste for rivalry and are able to obtain government assistance to impose “order” on the industry.

Item Type:Report or Paper (Working Paper)
Group:Social Science Working Papers
Series Name:Social Science Working Paper
Issue or Number:199
Record Number:CaltechAUTHORS:20171023-100308939
Persistent URL:
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82573
Deposited By: Jacquelyn Bussone
Deposited On:24 Oct 2017 21:46
Last Modified:03 Oct 2019 18:56

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