Published May 1979
| Submitted
Working Paper
Open
The Effect of Uncertainty in Regulatory Delay on the Rate of Innovation
- Creators
- Braeutigam, Ronald R.
Chicago
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Abstract
When a regulated firm considers the undertaking of an effort to innovate, it often faces incentives quite different from those confronting an unregulated firm. At least three types of uncertainty arise. First, will an innovative effort result in an implementable technology, and if so, when? Second, will the implementation of the technology be delayed by a regulatory authority, and if so, for how long? And finally, when the regulator permits the use of an innovation, what level of benefits will the firm ultimately receive?
Additional Information
This research was supported in part under a DOE grant, EY-76-G-03-1305, EQL Block. I wish to thank the Environmental Quality Laboratory at California Institute of Technology for its assistance in this research. I would also like to thank Louis Wilde, James Quirk, Roger Noll, Linda Cohen, Burt Klein, and M. J. Peck for their helpful comments on an earlier draft. Published as Braeutigam, Ronald R. "The effect of uncertainty in regulatory delay on the rate of innovation." Law and Contemporary Problems 43.1 (1979): 98-111.Attached Files
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Additional details
- Eprint ID
- 82425
- Resolver ID
- CaltechAUTHORS:20171017-134458507
- Department of Energy (DOE)
- EY-76-G-03-1305
- Created
-
2017-10-17Created from EPrint's datestamp field
- Updated
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2019-10-03Created from EPrint's last_modified field
- Caltech groups
- Social Science Working Papers
- Series Name
- Social Science Working Paper
- Series Volume or Issue Number
- 266