Extending the economic theory of regulation to the form of policy |
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| Authors: | Eric Rasmusen Mark Zupan |
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| Institution: | 1. Center for the Study of the Economy and the State, University of Chicago and John E. Anderson Graduate School of Management, UCLA, 90024, Los Angeles, CA
2. School of Business, University of Southern California, 90089-1421, Los Angeles, CA
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| Abstract: | The mutually beneficial connection between industries and the governments that regulate them is the subject of a large literature led by Stigler (1971). What has not been studied is how firms choose their desired policies from the set including entry barriers, price floors, subsidies, and demand stimulation. We take as given that government and incumbents from the supply and demand for regulation and explore the choice of political product. |
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