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A thoroughly revised and updated edition of the leading textbook on government and business policy, presenting the key principles underlying sound regulatory and antitrust policy.

Examines policy design when the policy maker in imperfectly informed, focusing on cases where the regulated firm possesses better information about its technology than the regulator.

How does information affect economic relations? What of the strategic issues surrounding the use of information: the make-buy-or-copy decision; the working and failure of markets; and the important role of outguessing each other in a macroeconomic context? Now, to help advanced students and researchers make sense of these and other dizzying questions, Routledge announces a new title in its acclaimed Critical Concepts in Economics series. Edited by David E. M. Sappington, a leading scholar in the field, Information Economics is a 'mini library' that brings together in four volumes the...