Dynamic regulation of quality
Stéphane Auray
- Fonction : Auteur
- PersonId : 1114037
Fabien Moizeau
- Fonction : Auteur
- PersonId : 170527
- IdHAL : fabien-moizeau
- ORCID : 0000-0002-5883-3852
- IdRef : 059795670
Résumé
We develop a dynamic regulation model of quality provision where maintenance efforts and quality shocks have a durable impact. When the regulator contracts with a sequence of agents, asymmetric information can lead to overprovision of quality, reflecting a dynamic rent extraction effect. When the regulator contracts with a single agent, the efficiency of their relationship depends on the regulator's ability to transfer rents across periods. Hiring a single agent with unlimited liability is socially preferable to hiring a sequence of agents, even when no commitment is feasible. By contrast, shorter franchises are socially preferable if the agent has limited liability.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Dynamic regulation of quality
|
Résumé |
en
We develop a dynamic regulation model of quality provision where maintenance efforts and quality shocks have a durable impact. When the regulator contracts with a sequence of agents, asymmetric information can lead to overprovision of quality, reflecting a dynamic rent extraction effect. When the regulator contracts with a single agent, the efficiency of their relationship depends on the regulator's ability to transfer rents across periods. Hiring a single agent with unlimited liability is socially preferable to hiring a sequence of agents, even when no commitment is feasible. By contrast, shorter franchises are socially preferable if the agent has limited liability.
|
Auteur(s) |
Stéphane Auray
1
, Thomas Mariotti
2
, Fabien Moizeau
3
1
EQUIPPE -
Economie Quantitative, Intégration, Politiques Publiques et Econométrie
( 39818 )
- Lille 1 : Université des Sciences et Technologies de Lille Cité Scientifique, Faculté d'Economie et de Sciences Sociales, Bâtiment SH2 - 59655 Villeneuve d'Ascq Cedex Lille 2 : Faculté des Sciences Juridiques, Politiques et Sociales 1, place Déliot - BP 629 - 59024 Lille Cedex Université Charles-de-Gaulle - Lille 3 Domaine universitaire du Pont de Bois Maison de la Recherche rue du Barreau - BP 60149 - 59653 Villeneuve d'Ascq Cedex
- France
2
GREMAQ -
Groupe de recherche en économie mathématique et quantitative
( 744 )
- manufacture des tabacs - bat. F 21 Allée de Brienne 31000 TOULOUSE
- France
3
CREM -
Centre de recherche en économie et management
( 894 )
- 7 place Hoche, BP 86514
35065 RENNES CEDEX
- France
|
Comité de lecture |
Oui
|
Vulgarisation |
Non
|
Langue du document |
Anglais
|
Nom de la revue |
|
Audience |
Internationale
|
Date de publication |
2011
|
Volume |
42
|
Numéro |
2
|
Page/Identifiant |
246-265
|
Public visé |
Scientifique
|
Voir aussi |
|
Domaine(s) |
|
Mots-clés |
en
quality, dynamic regulation
|
DOI | 10.1111/j.1756-2171.2011.00132.x/pdf |
ProdINRA | 245736 |
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