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A Theory of Incentives in Procurement and Regulation


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This book is a major contribution to what the authors aptly call the 'new regulatory economics.' In my opinion, this literature will guide the economic research on regulation for many years to come. -- Michael H. Riordan, Professor of Economics, Boston University Laffont and Tirole's book will still become a standard reference for 1980s procurement and regulation models. -- R. Preston McAfee, Rex G. Baker Jr. Professor of Political Economy, The University of Texas Laffont and Tirole treat the problem of incentive regulation at a very deep level. Their book is completely up-to-date on and includes a great deal of the authors' recent, influential original research. It will be considered the research reference on incentive regulation. -- Tom Palfrey, Professor of Economics and Political Science, California Institute of Technology

About the Author

Jean-Jacques Laffont was Professor of Economics at the Universite des Sciences Sociales de Toulouse and the Institut Universitaire de France and Director of the Institut d'Economie Industrielle. Jean Tirole, the 2014 Nobel Laureate in Economics, is Scientific Director of IDEI (Institut d'Economie Industrielle), Chairman of the Board of TSE (Toulouse School of Economics), and Annual Visiting Professor of Economics at MIT.

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