Regulation and Industrial Organization
研究政府针对整个行业的价格管制如何影响企业行为和行业结构，发现这种管制会导致企业低效运营，例如维持低效企业并鼓励成本膨胀。
This paper examines the effects on firm behavior and industry structure of industry-wide price regulation by the state. Such regulation, wherein regulators set prices with regard to an industry-wide aggregate performance measure, has been (and still is) widely used and is shown to induce inefficiencies in firm operation. In general such regulation can result in setting prices high enough to maintain inefficient firms, and it encourages to inefficient firm operation due to incentives to inflate costs and Averch-Johnson effects.